Virtu Financial LLC Invests $941,000 in New Gold Inc. (NYSE:NGD)

Virtu Financial LLC bought a new stake in shares of New Gold Inc. (NYSE:NGD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 326,770 shares of the company’s stock, valued at approximately $941,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NGD. Morton Capital Management LLC CA lifted its stake 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 buying an additional 5,000 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of New Gold by 15.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 47,722 shares of the company’s stock valued at $93,000 after acquiring an additional 6,252 shares during the period. Captrust Financial Advisors boosted its stake in New Gold by 17.6% during the third quarter. Captrust Financial Advisors now owns 44,700 shares of the company’s stock worth $129,000 after acquiring an additional 6,700 shares in the last quarter. Geode Capital Management LLC grew its holdings in New Gold by 2.0% in the third quarter. Geode Capital Management LLC now owns 372,373 shares of the company’s stock worth $1,084,000 after purchasing an additional 7,394 shares during the period. Finally, Kohmann Bosshard Financial Services LLC increased its stake in New Gold by 34.6% in the third quarter. Kohmann Bosshard Financial Services LLC now owns 35,000 shares of the company’s stock valued at $101,000 after purchasing an additional 9,000 shares in the last quarter. Institutional investors own 42.82% of the company’s stock.

Analyst Upgrades and Downgrades

NGD has been the topic of a number of research analyst reports. StockNews.com raised shares of New Gold from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Royal Bank of Canada raised their price objective on New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Scotiabank upped their target price on New Gold from $2.75 to $3.25 and gave the stock a “sector outperform” rating in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $3.41.

New Gold Stock Performance

Shares of NGD opened at $2.77 on Friday. The firm has a market capitalization of $2.19 billion, a P/E ratio of 138.50 and a beta of 1.32. New Gold Inc. has a 52 week low of $1.09 and a 52 week high of $3.25. The stock has a 50 day moving average price of $2.80 and a two-hundred day moving average price of $2.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.42.

New Gold (NYSE:NGD) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. New Gold had a return on equity of 9.38% and a net margin of 2.33%. The business had revenue of $252.00 million during the quarter. Equities analysts forecast that New Gold Inc. will post 0.18 earnings per share for the current fiscal year.

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.