Monaco Asset Management SAM Boosts Stock Holdings in New Gold Inc. (NYSE:NGD)

Monaco Asset Management SAM boosted its stake in shares of New Gold Inc. (NYSE:NGD) by 8.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 440,000 shares of the company’s stock after purchasing an additional 35,000 shares during the period. Monaco Asset Management SAM owned approximately 0.06% of New Gold worth $858,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Coppell Advisory Solutions Corp. acquired a new stake in New Gold during the 1st quarter worth approximately $30,000. Moloney Securities Asset Management LLC purchased a new position in shares of New Gold in the 1st quarter valued at $42,000. Morton Capital Management LLC CA lifted its holdings in shares of New Gold by 23.3% during the 2nd quarter. Morton Capital Management LLC CA now owns 26,494 shares of the company’s stock valued at $52,000 after acquiring an additional 5,000 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in New Gold during the 2nd quarter worth $87,000. Finally, Baader Bank Aktiengesellschaft increased its holdings in New Gold by 812.7% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 91,267 shares of the company’s stock valued at $132,000 after purchasing an additional 81,267 shares in the last quarter. 42.82% of the stock is owned by hedge funds and other institutional investors.

New Gold Trading Up 1.7 %

New Gold stock opened at $2.37 on Tuesday. New Gold Inc. has a 52 week low of $0.86 and a 52 week high of $2.73. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.50. The stock has a market cap of $1.87 billion, a PE ratio of -23.70 and a beta of 1.29. The firm’s 50 day simple moving average is $2.32.

New Gold (NYSE:NGD) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $218.20 million for the quarter. New Gold had a negative net margin of 2.53% and a positive return on equity of 5.22%. As a group, equities analysts predict that New Gold Inc. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NGD has been the topic of a number of recent research reports. Cibc World Mkts upgraded New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. National Bank Financial raised New Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. BMO Capital Markets started coverage on shares of New Gold in a research report on Friday, May 31st. They issued an “outperform” rating and a $3.50 price objective for the company. StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Sunday, September 1st. Finally, CIBC upped their target price on shares of New Gold from $3.00 to $3.40 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $2.49.

New Gold Company Profile

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.