Old West Investment Management LLC Position in New Gold INC Cda (NGD) Has Boosted by $5.76 Million as Market Value Declined

July 17, 2017 - By Henry Gaston

Old West Investment Management Llc increased its stake in New Gold Inc Cda (NGD) by 92.19% based on its latest 2016Q4 regulatory filing with the SEC. Old West Investment Management Llc bought 1.92M shares as the company’s stock declined 3.88% while stock markets rallied. The hedge fund held 4.00 million shares of the precious metals company at the end of 2016Q4, valued at $14.00 million, up from 2.08 million at the end of the previous reported quarter. Old West Investment Management Llc who had been investing in New Gold Inc Cda for a number of months, seems to be bullish on the $1.78 billion market cap company. The stock rose 2.53% or $0.08 reaching $3.05 per share. About 1.56 million shares traded. New Gold Inc. (USA) (NYSEMKT:NGD) has declined 31.09% since July 17, 2016 and is downtrending. It has underperformed by 47.79% the S&P500.

More important recent New Gold Inc. (USA) (NYSEMKT:NGD) news were published by: Juniorminingnetwork.com which released: “New Gold Provides Rainy River Development Update; Project Schedule and Cost …” on June 27, 2017, also Prnewswire.com published article titled: “New Gold to Discuss Second Quarter 2017 Financial Results on Thursday, July 27 …”, Business.Financialpost.com published: “Good news, gold will hit $1400. Bad news, a market correction comes first: Sprott” on July 17, 2017. More interesting news about New Gold Inc. (USA) (NYSEMKT:NGD) was released by: Benzinga.com and their article: “Going For The Gold With A New Gold Miners ETF” with publication date: June 30, 2017.

New Gold Inc. (USA) (NYSEMKT:NGD) Ratings Coverage

Among 4 analysts covering New Gold Inc. (NYSEMKT:NGD), 3 have Buy rating, 1 Sell and 0 Hold. Therefore 75% are positive. New Gold Inc. had 13 analyst reports since August 24, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Thursday, September 8 by Desjardins Securities. The rating was upgraded by Mackie on Friday, August 28 to “Hold”. IBC initiated New Gold Inc. (USA) (NYSEMKT:NGD) on Friday, October 9 with “Sector Performer” rating. The stock of New Gold Inc. (USA) (NYSEMKT:NGD) has “Underperform” rating given on Tuesday, January 31 by Credit Suisse. Mackie upgraded it to “Hold” rating and $4 target in Monday, August 31 report. The stock has “Buy” rating by Desjardins Securities on Friday, September 16.

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