Rep. Debbie Wasserman Schultz Sells Off Shares of New Gold Inc. (NYSE:NGD)

Representative Debbie Wasserman Schultz (D-Florida) recently sold shares of New Gold Inc. (NYSE:NGD). In a filing disclosed on November 20th, the Representative disclosed that they had sold between $1,001 and $15,000 in New Gold stock on November 18th.

Representative Debbie Wasserman Schultz also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Baxter International (NYSE:BAX) on 11/18/2024.
• Purchased $1,001 – $15,000 in shares of Patterson-UTI Energy (NASDAQ:PTEN) on 10/23/2024.
• Purchased $1,001 – $15,000 in shares of Viasat (NASDAQ:VSAT) on 10/23/2024.

New Gold Stock Performance

Shares of NGD stock opened at $2.87 on Friday. New Gold Inc. has a 12-month low of $1.09 and a 12-month high of $3.25. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 143.25 and a beta of 1.31. The business has a 50 day simple moving average of $2.86 and a 200 day simple moving average of $2.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84.

New Gold (NYSE:NGD) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.04 by $0.04. The business had revenue of $252.00 million during the quarter. New Gold had a return on equity of 9.38% and a net margin of 2.33%. On average, equities research analysts anticipate that New Gold Inc. will post 0.17 EPS for the current year.

Institutional Trading of New Gold

A number of hedge funds have recently added to or reduced their stakes in NGD. Van ECK Associates Corp lifted its holdings in shares of New Gold by 5.0% during the third quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company’s stock worth $215,743,000 after purchasing an additional 3,541,882 shares during the period. Dimensional Fund Advisors LP increased its stake in New Gold by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,394,885 shares of the company’s stock valued at $4,670,000 after purchasing an additional 200,799 shares in the last quarter. Old West Investment Management LLC increased its stake in New Gold by 42.9% in the third quarter. Old West Investment Management LLC now owns 1,000,000 shares of the company’s stock valued at $2,880,000 after purchasing an additional 300,000 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of New Gold by 684.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,466,500 shares of the company’s stock worth $4,255,000 after acquiring an additional 1,279,500 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co bought a new stake in shares of New Gold during the third quarter worth about $592,000. Institutional investors and hedge funds own 42.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NGD shares. Scotiabank lifted their price objective on New Gold from $2.75 to $3.25 and gave the stock a “sector outperform” rating in a research note on Tuesday, September 17th. StockNews.com raised New Gold from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada boosted their target price on New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $3.08.

About Representative Wasserman Schultz

Debbie Wasserman Schultz (Democratic Party) is a member of the U.S. House, representing Florida’s 25th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2025. Wasserman Schultz (Democratic Party) is running for re-election to the U.S. House to represent Florida’s 25th Congressional District. She declared candidacy for the Democratic primary scheduled on August 20, 2024. Wasserman Schultz was first elected to the U.S. House in 2004 from District 20. She previously represented District 34 of the Florida State Senate from 2003 to 2004, District 32 of the Florida State Senate from 2001 to 2003, and District 97 of the Florida House of Representatives from 1993 to 2001. She served as one of the Chief Deputy Whips of the Democratic caucus for the 113th Congress. She also served as the chair of the Democratic National Committee. On July 24, 2016, Wasserman Schultz announced that she would resign her leadership position at the end of the party’s convention. Wasserman Schultz was considered a possible candidate in 2016 for U.S. Senate. However, she announced on March 17, 2015, that she would not seek the Senate seat and would instead run for re-election to the House. Debbie Wasserman Schultz was born in Forest Hills, New York. Wasserman Schultz graduated from Half Hollow Hills High School East in 1984. She earned a B.A. and M.A. from the University of Florida in 1988 and 1990, respectively. Wasserman Schultz’s career experience includes working as a staffer to former U.S. Representative Peter Deutsch.

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.