Renaissance Technologies LLC Sells 1,430,244 Shares of New Gold Inc. (NYSEAMERICAN:NGD)

Posted by on Mar 5th, 2023

Renaissance Technologies LLC decreased its position in New Gold Inc. (NYSEAMERICAN:NGD – Get Rating) by 8.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 15,400,364 shares of the basic materials company’s stock after selling 1,430,244 shares during the period. Renaissance Technologies LLC owned about 2.26% of New Gold worth $13,552,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of New Gold during the 1st quarter worth approximately $33,000. Quantbot Technologies LP acquired a new position in shares of New Gold during the 2nd quarter worth approximately $33,000. ExodusPoint Capital Management LP acquired a new position in shares of New Gold during the 2nd quarter worth approximately $33,000. Citigroup Inc. grew its holdings in New Gold by 127.1% in the 1st quarter. Citigroup Inc. now owns 22,707 shares of the basic materials company’s stock valued at $41,000 after buying an additional 12,707 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in New Gold by 275.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 41,369 shares of the basic materials company’s stock valued at $44,000 after buying an additional 30,365 shares in the last quarter. Institutional investors own 31.92% of the company’s stock.

New Gold Stock Performance

Shares of NGD stock opened at $0.93 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.20 and a debt-to-equity ratio of 0.41. New Gold Inc. has a twelve month low of $0.61 and a twelve month high of $1.99. The firm has a market cap of $636.28 million, a P/E ratio of -9.32, a price-to-earnings-growth ratio of 2.39 and a beta of 1.49.

Wall Street Analysts Forecast Growth

NGD has been the topic of a number of research reports. TD Securities decreased their price objective on New Gold from $0.95 to $0.90 and set a “reduce” rating on the stock in a report on Friday, February 17th. TheStreet lowered New Gold from a “c” rating to a “d” rating in a report on Tuesday, February 21st. Scotiabank initiated coverage on New Gold in a report on Friday. They issued a “sector perform” rating on the stock. Finally, National Bank Financial upped their target price on New Gold from C$1.60 to C$1.75 in a research report on Friday, January 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $1.48.

New Gold Company Profile

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New Gold, Inc is a gold mining company, which engages in the operation, development and exploration of mineral properties. Its portfolio includes Rainy RIver, New Afton, and Cerro San Pedro. The company was founded on January 31, 1980 and is headquartered in Toronto, Canada.

Further Reading

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

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