Caprock Group LLC Boosts Holdings in New Gold Inc. (NYSE:NGD)

Caprock Group LLC increased its holdings in New Gold Inc. (NYSE:NGD) by 118.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,745,627 shares of the company’s stock after purchasing an additional 945,453 shares during the period. Caprock Group LLC’s holdings in New Gold were worth $4,329,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Allworth Financial LP boosted its position in New Gold by 941.8% during the third quarter. Allworth Financial LP now owns 10,418 shares of the company’s stock valued at $30,000 after buying an additional 9,418 shares during the period. DGS Capital Management LLC purchased a new stake in New Gold during the 4th quarter valued at about $30,000. Eastern Bank bought a new position in New Gold during the 3rd quarter worth approximately $33,000. NorthCrest Asset Manangement LLC purchased a new position in New Gold in the 3rd quarter worth approximately $58,000. Finally, Morton Capital Management LLC CA lifted its position in New Gold by 18.9% in the third quarter. Morton Capital Management LLC CA now owns 31,494 shares of the company’s stock valued at $91,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 42.82% of the company’s stock.

New Gold Price Performance

Shares of NGD stock opened at $3.02 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.42. The firm has a market cap of $2.39 billion, a P/E ratio of 151.00 and a beta of 1.34. The business’s 50 day moving average price is $2.72 and its 200-day moving average price is $2.67. New Gold Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $3.25.

New Gold (NYSE:NGD) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. New Gold had a net margin of 2.33% and a return on equity of 9.38%. The business had revenue of $252.00 million for the quarter. On average, equities research analysts anticipate that New Gold Inc. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $3.41.

New Gold 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.