Intact Investment Management Inc. Acquires 177,800 Shares of New Gold Inc. (NYSEAMERICAN:NGD)

Intact Investment Management Inc. grew its holdings in New Gold Inc. (NYSEAMERICAN:NGD) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,970,000 shares of the basic materials company’s stock after acquiring an additional 177,800 shares during the period. Intact Investment Management Inc. owned 0.43% of New Gold worth $4,304,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its stake in shares of New Gold by 346.6% in the fourth quarter. Mackenzie Financial Corp now owns 9,635,055 shares of the basic materials company’s stock worth $13,968,000 after buying an additional 7,477,711 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in shares of New Gold in the third quarter worth $3,185,000. U S Global Investors Inc. lifted its stake in shares of New Gold by 22.5% in the fourth quarter. U S Global Investors Inc. now owns 3,144,658 shares of the basic materials company’s stock worth $4,591,000 after buying an additional 577,757 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of New Gold by 24.6% in the third quarter. Deutsche Bank AG now owns 2,824,635 shares of the basic materials company’s stock worth $2,570,000 after buying an additional 556,765 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of New Gold by 35.8% in the third quarter. SG Americas Securities LLC now owns 324,687 shares of the basic materials company’s stock worth $295,000 after buying an additional 85,605 shares during the last quarter. 42.82% of the stock is owned by institutional investors.

New Gold Stock Performance

New Gold stock traded up $0.02 during trading hours on Friday, reaching $1.82. 5,108,681 shares of the company’s stock traded hands, compared to its average volume of 8,873,183. The company has a current ratio of 1.54, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. New Gold Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $1.94. The company has a market cap of $1.26 billion, a PE ratio of 26.00, a PEG ratio of 0.57 and a beta of 1.54.

New Gold (NYSEAMERICAN:NGD) last announced its quarterly earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $199.20 million during the quarter. New Gold had a negative net margin of 8.20% and a positive return on equity of 5.63%. Equities analysts anticipate that New Gold Inc. will post 0.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NGD shares. StockNews.com cut shares of New Gold from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of New Gold in a report on Monday, April 8th. Finally, Scotiabank boosted their price target on shares of New Gold from $1.65 to $2.00 and gave the company a “sector perform” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, New Gold currently has an average rating of “Hold” and an average target price of $1.64.

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.