Triasima Portfolio Management inc. Grows Holdings in New Gold Inc. $NGD

Triasima Portfolio Management inc. grew its position in shares of New Gold Inc. (NYSE:NGD) by 41.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 849,586 shares of the company’s stock after purchasing an additional 247,821 shares during the period. Triasima Portfolio Management inc.’s holdings in New Gold were worth $6,088,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NGD. Creative Planning grew its stake in New Gold by 8.1% in the 2nd quarter. Creative Planning now owns 27,575 shares of the company’s stock worth $136,000 after acquiring an additional 2,071 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of New Gold by 0.6% during the second quarter. Russell Investments Group Ltd. now owns 473,856 shares of the company’s stock worth $2,342,000 after purchasing an additional 2,679 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of New Gold by 190.7% in the third quarter. Global Retirement Partners LLC now owns 7,031 shares of the company’s stock valued at $50,000 after purchasing an additional 4,612 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of New Gold in the third quarter valued at $41,000. Finally, State of Wyoming lifted its position in New Gold by 32.1% during the second quarter. State of Wyoming now owns 26,600 shares of the company’s stock worth $132,000 after buying an additional 6,465 shares during the period. Institutional investors and hedge funds own 42.82% of the company’s stock.

Wall Street Analysts Forecast Growth

NGD has been the subject of a number of research analyst reports. Raymond James Financial reaffirmed a “market perform” rating and set a $7.00 price objective on shares of New Gold in a research note on Friday, October 10th. Scotiabank lifted 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. National Bankshares reissued an “outperform” rating on shares of New Gold in a research note on Thursday, October 30th. CIBC increased their target price on New Gold from $6.50 to $9.50 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Finally, TD Securities raised New Gold from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $7.38.

New Gold Stock Up 0.6%

Shares of New Gold stock opened at $11.12 on Tuesday. New Gold Inc. has a twelve month low of $2.60 and a twelve month high of $11.62. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 85.55 and a beta of 0.62. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average price of $8.49 and a 200 day moving average price of $6.83.

New Gold 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.