Public Sector Pension investment Board reduced its stake in shares of New Gold Inc. (NYSE:NGD) (TSE:NGD) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,190,704 shares of the company’s stock after selling 12,200 shares during the quarter. Public Sector Pension investment Board owned about 0.55% of New Gold worth $10,122,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NGD. Van ECK Associates Corp grew its stake in New Gold by 66.0% during the 2nd quarter. Van ECK Associates Corp now owns 76,891,925 shares of the company’s stock worth $244,516,000 after buying an additional 30,578,881 shares during the last quarter. Donald Smith & CO. Inc. bought a new position in New Gold during the 1st quarter worth $26,342,000. Marlin Sams Capital Management LLC grew its stake in New Gold by 761.9% during the 1st quarter. Marlin Sams Capital Management LLC now owns 4,892,638 shares of the company’s stock worth $14,580,000 after buying an additional 4,325,000 shares during the last quarter. Alps Advisors Inc. grew its stake in New Gold by 357.2% during the 2nd quarter. Alps Advisors Inc. now owns 3,462,679 shares of the company’s stock worth $11,011,000 after buying an additional 2,705,389 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in New Gold by 374.9% during the 1st quarter. Schroder Investment Management Group now owns 2,558,641 shares of the company’s stock worth $7,779,000 after buying an additional 2,019,860 shares during the last quarter.

New Gold Inc. (NYSE NGD) opened at 3.70 on Friday. New Gold Inc. has a 12 month low of $2.39 and a 12 month high of $4.99. The firm’s 50-day moving average price is $3.63 and its 200-day moving average price is $3.15. The firm has a market cap of $2.13 billion and a price-to-earnings ratio of 38.14.

New Gold (NYSE:NGD) (TSE:NGD) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.02 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.02. New Gold had a return on equity of 4.03% and a net margin of 12.45%. The firm had revenue of $185.60 million during the quarter, compared to analysts’ expectations of $181.17 million. During the same period last year, the firm posted ($0.02) EPS. The business’s revenue was up 2.9% on a year-over-year basis. Equities research analysts predict that New Gold Inc. will post $0.06 earnings per share for the current year.

A number of brokerages recently commented on NGD. Royal Bank Of Canada set a $4.00 price objective on New Gold and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded New Gold from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. National Bank Financial upgraded New Gold from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 24th. Finally, Raymond James Financial, Inc. restated a “market perform” rating and set a $3.50 price objective on shares of New Gold in a research note on Thursday, June 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. New Gold presently has an average rating of “Hold” and an average price target of $3.79.

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New Gold Profile

New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.

Institutional Ownership by Quarter for New Gold (NYSE:NGD)

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