Hohimer Wealth Management LLC Makes New $4.15 Million Investment in New Gold Inc. $NGD

Hohimer Wealth Management LLC purchased a new stake in New Gold Inc. (NYSE:NGD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 577,334 shares of the company’s stock, valued at approximately $4,145,000. Hohimer Wealth Management LLC owned 0.07% of New Gold as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of New Gold in the third quarter worth $41,000. MAI Capital Management bought a new position in New Gold during the 3rd quarter worth $43,000. Employees Retirement System of Texas acquired a new position in New Gold during the 2nd quarter worth about $32,000. Global Retirement Partners LLC grew its position in shares of New Gold by 190.7% in the 3rd quarter. Global Retirement Partners LLC now owns 7,031 shares of the company’s stock valued at $50,000 after buying an additional 4,612 shares during the last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of New Gold in the 3rd quarter valued at about $60,000. Institutional investors own 42.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NGD shares. TD Securities upgraded New Gold from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Monday, December 1st. Scotiabank increased their target price on shares of New Gold to $12.75 and gave the company an “outperform” rating in a research report on Monday, January 26th. National Bank Financial restated an “outperform” rating on shares of New Gold in a report on Thursday, October 30th. Finally, Zacks Research upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $8.18.

New Gold Trading Up 7.8%

NYSE NGD opened at $13.14 on Friday. The stock has a market capitalization of $10.41 billion, a P/E ratio of 101.08 and a beta of 0.59. The business has a 50 day simple moving average of $10.60 and a 200 day simple moving average of $8.14. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. New Gold Inc. has a one year low of $2.60 and a one year high of $13.63.

New Gold Company Profile

New Gold Inc is a Canadian-based intermediate precious metals producer focused on the exploration, development and operation of gold and copper mining assets. The company was formed in 2008 through the merger of two exploration firms and has since grown into a multi-asset mining platform. Headquartered in Toronto, New Gold emphasizes a disciplined approach to capital allocation and operational execution, with a commitment to environmental stewardship and strong community relations.

New Gold’s principal producing assets include the New Afton Mine in British Columbia and the Rainy River Mine in northwestern Ontario.