New Gold Inc (NGD) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in New Gold Inc (NYSEAMERICAN:NGD) by 1,455.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,891,034 shares of the basic materials company’s stock after purchasing an additional 2,705,134 shares during the quarter. Renaissance Technologies LLC’s holdings in New Gold were worth $6,015,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NGD. Bank of Montreal Can increased its holdings in New Gold by 10.6% during the 2nd quarter. Bank of Montreal Can now owns 5,615,256 shares of the basic materials company’s stock valued at $11,680,000 after acquiring an additional 539,254 shares in the last quarter. Millennium Management LLC increased its holdings in New Gold by 2,583.0% during the 1st quarter. Millennium Management LLC now owns 1,697,213 shares of the basic materials company’s stock valued at $4,379,000 after acquiring an additional 1,633,956 shares in the last quarter. Brave Asset Management Inc. increased its holdings in New Gold by 270.6% during the 2nd quarter. Brave Asset Management Inc. now owns 63,000 shares of the basic materials company’s stock valued at $131,000 after acquiring an additional 46,000 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in New Gold by 26.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 103,765 shares of the basic materials company’s stock valued at $267,000 after acquiring an additional 21,800 shares in the last quarter. Finally, BlueMountain Capital Management LLC purchased a new position in New Gold during the 2nd quarter valued at about $2,578,000. Institutional investors and hedge funds own 51.53% of the company’s stock.

Several equities analysts have weighed in on NGD shares. Canaccord Genuity upgraded shares of New Gold from a “sell” rating to a “hold” rating in a report on Monday, August 20th. Royal Bank of Canada downgraded shares of New Gold from a “sector perform” rating to an “underperform” rating and dropped their target price for the company from $3.50 to $1.40 in a report on Wednesday, August 15th. Zacks Investment Research upgraded shares of New Gold from a “strong sell” rating to a “hold” rating in a report on Saturday, September 8th. National Bank Financial downgraded shares of New Gold from an “outperform spec overweight” rating to a “sector perform spec overwgt” rating in a report on Wednesday, August 8th. Finally, TD Securities dropped their target price on shares of New Gold from $1.75 to $1.50 and set a “hold” rating for the company in a report on Thursday, August 9th. Four equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. New Gold presently has an average rating of “Hold” and a consensus target price of $2.02.

Shares of NYSEAMERICAN NGD opened at $0.80 on Friday. New Gold Inc has a 12 month low of $0.75 and a 12 month high of $3.84. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.28 and a quick ratio of 1.38.

New Gold Company Profile

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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

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