Kohmann Bosshard Financial Services LLC Has $101,000 Stake in New Gold Inc. (NYSE:NGD)

Kohmann Bosshard Financial Services LLC boosted its stake in shares of New Gold Inc. (NYSE:NGD) by 34.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,000 shares of the company’s stock after acquiring an additional 9,000 shares during the quarter. Kohmann Bosshard Financial Services LLC’s holdings in New Gold were worth $101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of New Gold by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,394,885 shares of the company’s stock worth $4,670,000 after purchasing an additional 200,799 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of New Gold during the first quarter worth approximately $1,074,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of New Gold in the second quarter valued at approximately $458,000. Pekin Hardy Strauss Inc. bought a new position in shares of New Gold in the second quarter valued at approximately $356,000. Finally, Headlands Technologies LLC acquired a new position in shares of New Gold in the 2nd quarter worth approximately $366,000. 42.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Royal Bank of Canada lifted their price objective on New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. StockNews.com downgraded shares of New Gold from a “buy” rating to a “hold” rating in a research report on Thursday. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. CIBC upped their target price on shares of New Gold from $3.00 to $3.40 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Scotiabank increased their price target on shares of New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a research note on Tuesday, September 17th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2.74.

New Gold Price Performance

NGD opened at $3.02 on Friday. New Gold Inc. has a fifty-two week low of $1.03 and a fifty-two week high of $3.25. The company has a market capitalization of $2.39 billion, a P/E ratio of -30.20 and a beta of 1.30. 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 business’s 50 day simple moving average is $2.73.

New Gold (NYSE:NGD) last issued its earnings results on Tuesday, July 30th. The company reported $0.02 EPS for the quarter, beating 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, analysts expect that New Gold Inc. will post 0.15 EPS for the current year.

About New Gold

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.