New Gold (USA) (NGD) : Kopernik Global Investors reduced its stake in New Gold (USA) by 34.67% during the most recent quarter end. The investment management company now holds a total of 2,223,258 shares of New Gold (USA) which is valued at $12,494,710 after selling 1,179,780 shares in New Gold (USA) , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.New Gold (USA) makes up approximately 2.06% of Kopernik Global Investors’s portfolio.
Other Hedge Funds, Including , Brave Asset Management Inc boosted its stake in NGD in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 120,300 shares of New Gold (USA) which is valued at $686,913. New Gold (USA) makes up approx 0.45% of Brave Asset Management Inc’s portfolio.Tradewinds Capital Management reduced its stake in NGD by selling 250 shares or 25.0% in the most recent quarter. The Hedge Fund company now holds 750 shares of NGD which is valued at $3,900.Rothschild Capital Partners reduced its stake in NGD by selling 3,200 shares or 16.0% in the most recent quarter. The Hedge Fund company now holds 16,800 shares of NGD which is valued at $80,304. New Gold (USA) makes up approx 0.04% of Rothschild Capital Partners’s portfolio.
New Gold (USA) closed down -0.08 points or -1.39% at $5.68 with 62,37,475 shares getting traded on Wednesday. Post opening the session at $5.71, the shares hit an intraday low of $5.47 and an intraday high of $5.74 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
On the company’s financial health, New Gold (USA) reported $-0.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.00. The company had revenue of $180.30 million for the quarter, compared to analysts expectations of $168.01 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.
Many Wall Street Analysts have commented on New Gold (USA). New Gold (USA) was Downgraded by Dundee to ” Sell” on May 25, 2016.
New Gold Inc. is a Canada-based intermediate gold mining company engaged in the development and operation of mineral properties. The Company’s assets include New Afton Mine in Canada which is an underground gold?copper deposit; the Mesquite Mine in the United States which is an open pit mine; the Peak Mines in Australia which is an underground gold?copper deposit and the Cerro San Pedro Mine in Mexico which is a gold?silver open pit mine. The Company projects include the Rainy River and Blackwater projects both in Canada and a 30% interest in the El Morro copper?gold project in Chile. Approximately 28% of the Company’s gold revenue is generated from Canada 28% from the United States 26% from Australia and 18% from Mexico and over 70% of its gold reserves are located in Canada.