New Gold (USA) (NGD) : Old West Investment Management reduced its stake in New Gold (USA) by 4.28% during the most recent quarter end. The investment management company now holds a total of 2,057,929 shares of New Gold (USA) which is valued at $9.3 Million after selling 91,914 shares in New Gold (USA) , the firm said in a disclosure report filed with the SEC on May 13, 2016.New Gold (USA) makes up approximately 7.74% of Old West Investment Management’s portfolio.
Other Hedge Funds, Including , Van Eck Associates Corp reduced its stake in NGD by selling 9,214,930 shares or 17.18% in the most recent quarter. The Hedge Fund company now holds 44,426,541 shares of NGD which is valued at $201.3 Million. New Gold (USA) makes up approx 1.19% of Van Eck Associates Corp’s portfolio.Sg Americas Securities reduced its stake in NGD by selling 32,635 shares or 35.83% in the most recent quarter. The Hedge Fund company now holds 58,445 shares of NGD which is valued at $264,756. Oppenheimerfunds added NGD to its portfolio by purchasing 3,530,000 company shares during the most recent quarter which is valued at $16 Million. New Gold (USA) makes up approx 0.02% of Oppenheimerfunds’s portfolio.Td Asset Management Inc boosted its stake in NGD in the latest quarter, The investment management firm added 542,462 additional shares and now holds a total of 3,395,132 shares of New Gold (USA) which is valued at $15.6 Million. New Gold (USA) makes up approx 0.03% of Td Asset Management Inc’s portfolio. J&p(china)capital Managementltd sold out all of its stake in NGD during the most recent quarter. The investment firm sold 202,000 shares of NGD which is valued $929,200.
New Gold (USA) closed down -0.13 points or -3.29% at $3.82 with 1,20,66,314 shares getting traded on Wednesday. Post opening the session at $3.82, the shares hit an intraday low of $3.7 and an intraday high of $3.945 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 $0.01 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). New Gold (USA) was Downgraded by Dundee to ” Sell” on May 25, 2016. 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 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.