Barclays PLC Reduces Stock Holdings in New Gold Inc. (NYSE:NGD)

Barclays PLC decreased its position in shares of New Gold Inc. (NYSE:NGD - Free Report) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 923,880 shares of the company's stock after selling 126,401 shares during the quarter. Barclays PLC owned 0.12% of New Gold worth $2,292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NGD. DGS Capital Management LLC acquired a new stake in New Gold in the fourth quarter valued at $30,000. Samalin Investment Counsel LLC acquired a new stake in New Gold in the 4th quarter valued at about $32,000. Bank of Nova Scotia acquired a new stake in New Gold in the 4th quarter valued at about $68,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in New Gold during the 4th quarter valued at about $74,000. Finally, Atria Wealth Solutions Inc. acquired a new position in New Gold during the fourth quarter worth about $87,000. Institutional investors and hedge funds own 42.82% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Scotiabank reissued an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and boosted their target price for the company from $2.60 to $3.90 in a research note on Wednesday, March 26th. National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a report on Friday, March 21st. New Street Research set a $3.90 price objective on shares of New Gold in a research note on Wednesday, March 26th. Finally, StockNews.com downgraded New Gold from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, New Gold currently has a consensus rating of "Moderate Buy" and a consensus price target of $3.85.

New Gold Trading Up 6.9 %

NYSE NGD traded up $0.27 during mid-day trading on Tuesday, hitting $4.20. The company's stock had a trading volume of 29,336,379 shares, compared to its average volume of 12,568,810. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. New Gold Inc. has a 52-week low of $1.74 and a 52-week high of $4.21. The stock's fifty day simple moving average is $3.36 and its two-hundred day simple moving average is $2.98. The firm has a market capitalization of $3.32 billion, a P/E ratio of 32.31 and a beta of 0.54.

New Gold 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.