CIBC Asset Management Inc grew its holdings in New Gold Inc (NYSEAMERICAN:NGD) by 282.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,202,564 shares of the basic materials company’s stock after acquiring an additional 888,496 shares during the period. CIBC Asset Management Inc owned about 0.21% of New Gold worth $949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. Brave Asset Management Inc. grew its stake in shares of New Gold by 270.6% during the second quarter. Brave Asset Management Inc. now owns 63,000 shares of the basic materials company’s stock worth $131,000 after purchasing an additional 46,000 shares in the last quarter. First Manhattan Co. grew its stake in shares of New Gold by 1,245.5% during the third quarter. First Manhattan Co. now owns 714,450 shares of the basic materials company’s stock worth $566,000 after purchasing an additional 661,350 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of New Gold during the second quarter worth $802,000. BlackRock Inc. grew its stake in shares of New Gold by 16.9% during the second quarter. BlackRock Inc. now owns 425,898 shares of the basic materials company’s stock worth $886,000 after purchasing an additional 61,470 shares in the last quarter. Finally, Guggenheim Capital LLC grew its stake in shares of New Gold by 18.8% during the first quarter. Guggenheim Capital LLC now owns 559,383 shares of the basic materials company’s stock worth $1,444,000 after purchasing an additional 88,719 shares in the last quarter. Institutional investors and hedge funds own 51.53% of the company’s stock.

Shares of NGD opened at $0.82 on Friday. New Gold Inc has a 1-year low of $0.69 and a 1-year high of $3.56.

New Gold (NYSEAMERICAN:NGD) last announced its earnings results on Wednesday, October 24th. The basic materials company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $147.10 million during the quarter, compared to analysts’ expectations of $189.47 million.

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets reissued a “hold” rating on shares of New Gold in a research report on Thursday, November 1st. Raymond James set a $1.25 price target on shares of New Gold and gave the company a “market perform” rating in a research report on Friday, October 26th. Zacks Investment Research raised shares of New Gold from a “strong sell” rating to a “hold” rating in a research report on Friday, October 26th. Royal Bank of Canada reduced their price target on shares of New Gold from $1.25 to $1.00 and set an “underperform” rating for the company in a research report on Wednesday, September 26th. Finally, Canaccord Genuity raised shares of New Gold from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. New Gold presently has a consensus rating of “Hold” and an average price target of $1.87.

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New Gold 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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