CANADA LIFE ASSURANCE Co reduced its stake in shares of New Gold Inc. (NYSE:NGD - Free Report) by 75.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 82,863 shares of the company's stock after selling 250,543 shares during the quarter. CANADA LIFE ASSURANCE Co's holdings in New Gold were worth $205,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in NGD. DGS Capital Management LLC acquired a new stake in New Gold during the 4th quarter worth approximately $30,000. Samalin Investment Counsel LLC bought a new position in shares of New Gold during the fourth quarter valued at about $32,000. Bank of Nova Scotia bought a new position in New Gold in the 4th quarter valued at $68,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of New Gold during the 4th quarter worth approximately $74,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of New Gold during the 4th quarter valued at $87,000. Institutional investors own 42.82% of the company's stock.
New Gold Stock Performance
NGD stock traded up $0.08 during midday trading on Tuesday, reaching $4.01. The stock had a trading volume of 4,023,226 shares, compared to its average volume of 18,930,941. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. New Gold Inc. has a 52-week low of $1.74 and a 52-week high of $4.08. The firm has a fifty day simple moving average of $3.33 and a two-hundred day simple moving average of $2.97. The stock has a market cap of $3.17 billion, a PE ratio of 30.81 and a beta of 0.54.
Analysts Set New Price Targets
A number of equities analysts have recently commented on NGD shares. Bank of America upgraded shares of New Gold from an "underperform" rating to a "buy" rating and raised their price objective for the company from $2.60 to $3.90 in a research report on Wednesday, March 26th. Raymond James set a $4.00 price objective on shares of New Gold and gave the stock a "market perform" rating in a report on Friday, April 4th. New Street Research set a $3.90 price objective on New Gold in a research report on Wednesday, March 26th. National Bankshares restated an "outperform" rating on shares of New Gold in a research note on Wednesday, April 2nd. Finally, Scotiabank reaffirmed an "outperform" rating on shares of New Gold in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, New Gold currently has an average rating of "Moderate Buy" and an average price target of $3.85.
Check Out Our Latest Research Report on New Gold
New Gold Company Profile
(
Free Report)
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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