New Gold (USA) (NGD) : Saddle Road Partners has sold out all of its stake in New Gold (USA) during the most recent quarter, according to the disclosure filed by the company on Apr 21, 2016 with the SEC. The investment management company has sold out 6,211 shares of New Gold (USA) which is valued at $26,956.
New Gold (USA) opened for trading at $4.47 and hit $4.6 on the upside on Wednesday, eventually ending the session at $4.55, with a gain of 1.56% or 0.07 points. The heightened volatility saw the trading volume jump to 32,62,451 shares. Company has a market cap of $2,316 M.
Other Hedge Funds, Including , Lincluden Management Ltd reduced its stake in NGD by selling 19,005 shares or 57.28% in the most recent quarter. The Hedge Fund company now holds 14,175 shares of NGD which is valued at $61,520. New Gold (USA) makes up approx 0.01% of Lincluden Management Ltd’s portfolio. Acadian Asset Management added NGD to its portfolio by purchasing 423,603 company shares during the most recent quarter which is valued at $1,757,952. New Gold (USA) makes up approx 0.01% of Acadian Asset Management’s portfolio. Independent Portfolio Consultants sold out all of its stake in NGD during the most recent quarter. The investment firm sold 5,175 shares of NGD which is valued $21,476.Creative Planning reduced its stake in NGD by selling 835 shares or 5.6% in the most recent quarter. The Hedge Fund company now holds 14,085 shares of NGD which is valued at $60,143.
On the company’s financial health, New Gold (USA) reported $0.01 EPS for the quarter, based on the information available during the earnings call on Feb 17, 2016. Analyst had a consensus estimate of $0.01. The company had revenue of $199.00 million for the quarter, compared to analysts expectations of $200.50 million. The company’s revenue was up 5.9% compared to the same quarter last year.
Many Wall Street Analysts have commented on New Gold (USA). Company shares were Upgraded by Barclays on Apr 18, 2016 to ” Overweight”, Firm has raised the Price Target to $ 5 from a previous price target of $3 .Company shares were Downgraded by RBC Capital Mkts on Mar 21, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 3.75 from a previous price target of $3 .New Gold (USA) was Upgraded by Desjardins to ” Hold” on Feb 23, 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.