New Gold Inc. (NYSE:NGD – Get Free Report) was the recipient of unusually large options trading activity on Friday. Stock traders purchased 10,426 call options on the stock. This represents an increase of approximately 284% compared to the typical volume of 2,718 call options.
New Gold Stock Down 1.8 %
NYSE NGD opened at $2.80 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.50. The stock has a market capitalization of $2.21 billion, a P/E ratio of -28.05 and a beta of 1.30. New Gold has a 52 week low of $0.96 and a 52 week high of $3.25. The firm’s 50-day simple moving average is $2.61.
New Gold (NYSE:NGD – Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. New Gold had a negative net margin of 2.53% and a positive return on equity of 5.22%. The company had revenue of $218.20 million during the quarter. As a group, equities research analysts anticipate that New Gold will post 0.15 EPS for the current year.
Wall Street Analyst Weigh In
View Our Latest Stock Report on New Gold
Hedge Funds Weigh In On New Gold
Several hedge funds have recently made changes to their positions in NGD. Van ECK Associates Corp boosted its stake in New Gold by 8.4% during the first quarter. Van ECK Associates Corp now owns 72,499,714 shares of the company’s stock valued at $123,249,000 after buying an additional 5,613,145 shares during the period. Renaissance Technologies LLC boosted its position in shares of New Gold by 13.5% during the 2nd quarter. Renaissance Technologies LLC now owns 20,111,264 shares of the company’s stock valued at $39,217,000 after acquiring an additional 2,399,200 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of New Gold by 57.3% during the second quarter. Mackenzie Financial Corp now owns 16,328,086 shares of the company’s stock worth $32,229,000 after purchasing an additional 5,948,394 shares in the last quarter. Invenomic Capital Management LP raised its stake in New Gold by 19.6% in the fourth quarter. Invenomic Capital Management LP now owns 10,101,164 shares of the company’s stock valued at $14,748,000 after purchasing an additional 1,654,396 shares in the last quarter. Finally, Herr Investment Group LLC lifted its position in New Gold by 40.4% during the second quarter. Herr Investment Group LLC now owns 5,210,363 shares of the company’s stock valued at $10,160,000 after purchasing an additional 1,499,745 shares during the last quarter. 42.82% of the stock is currently owned by hedge funds and other institutional investors.
New Gold Company Profile
New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company’s principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.
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