RWA Wealth Partners LLC Invests $644,000 in New Gold Inc. $NGD

RWA Wealth Partners LLC purchased a new stake in shares of New Gold Inc. (NYSE:NGD) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 130,000 shares of the company’s stock, valued at approximately $644,000.

Other hedge funds also recently bought and sold shares of the company. Cary Street Partners Financial LLC purchased a new position in New Gold during the first quarter worth $37,000. Nwam LLC purchased a new position in New Gold during the 1st quarter worth $45,000. Private Advisor Group LLC bought a new stake in New Gold during the 1st quarter valued at $50,000. Banque Cantonale Vaudoise purchased a new position in shares of New Gold during the first quarter valued at $56,000. Finally, Tradition Wealth Management LLC bought a new position in shares of New Gold in the 1st quarter worth $56,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on NGD. National Bankshares restated an “outperform” rating on shares of New Gold in a research note on Thursday, October 30th. CIBC increased their price objective on shares of New Gold from $6.50 to $9.50 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Raymond James Financial reissued a “market perform” rating and set a $7.00 target price on shares of New Gold in a report on Friday, October 10th. Scotiabank upped their price target on shares of New Gold from $5.50 to $8.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Finally, TD Securities reiterated a “hold” rating and issued a $7.50 price objective on shares of New Gold in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $6.63.

New Gold Stock Performance

Shares of New Gold stock opened at $7.03 on Monday. 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 fifty-two week low of $2.43 and a fifty-two week high of $7.71. The firm has a market capitalization of $5.57 billion, a P/E ratio of 54.08 and a beta of 0.52. The company’s 50 day moving average price is $6.79 and its two-hundred day moving average price is $5.36.

About New Gold

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.