New Gold Inc. (NYSE:NGD) Stake Trimmed by TSP Capital Management Group LLC

TSP Capital Management Group LLC reduced its position in New Gold Inc. (NYSE:NGD) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,525,950 shares of the company’s stock after selling 51,850 shares during the quarter. New Gold accounts for approximately 5.5% of TSP Capital Management Group LLC’s holdings, making the stock its 4th biggest holding. TSP Capital Management Group LLC’s holdings in New Gold were worth $16,184,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NGD. SG Americas Securities LLC increased its position in shares of New Gold by 49.9% during the third quarter. SG Americas Securities LLC now owns 145,990 shares of the company’s stock worth $420,000 after acquiring an additional 48,614 shares during the period. Kohmann Bosshard Financial Services LLC increased its position in shares of New Gold by 34.6% during the third quarter. Kohmann Bosshard Financial Services LLC now owns 35,000 shares of the company’s stock worth $101,000 after acquiring an additional 9,000 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of New Gold by 684.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,466,500 shares of the company’s stock worth $4,255,000 after acquiring an additional 1,279,500 shares during the period. Eastern Bank purchased a new position in shares of New Gold during the third quarter worth approximately $33,000. Finally, DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of New Gold during the third quarter worth approximately $592,000. 42.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NGD has been the topic of a number of research reports. StockNews.com raised shares of New Gold from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Scotiabank raised their target price on shares of New Gold from $3.50 to $4.00 and gave the stock a “sector outperform” rating in a research report on Thursday. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $3.60.

New Gold Stock Performance

Shares of NGD stock opened at $3.03 on Friday. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 151.50 and a beta of 1.36. The company’s 50 day moving average is $2.77 and its 200 day moving average is $2.72. The company has a quick ratio of 0.84, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. New Gold Inc. has a 52-week low of $1.09 and a 52-week high of $3.25.

About New Gold

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.