New Gold Inc. (NYSE:NGD) Holdings Cut by Condire Management LP

Condire Management LP cut its stake in shares of New Gold Inc. (NYSE:NGD - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,739,918 shares of the company's stock after selling 2,143,082 shares during the quarter. New Gold makes up approximately 11.8% of Condire Management LP's holdings, making the stock its 3rd biggest holding. Condire Management LP owned about 4.14% of New Gold worth $81,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NGD. Renaissance Technologies LLC raised its position in shares of New Gold by 11.6% during the 4th quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock worth $62,363,000 after purchasing an additional 2,619,782 shares during the last quarter. Invesco Ltd. increased its position in shares of New Gold by 3.6% in the fourth quarter. Invesco Ltd. now owns 13,481,005 shares of the company's stock worth $33,433,000 after acquiring an additional 469,748 shares in the last quarter. American Century Companies Inc. raised its stake in shares of New Gold by 3.9% in the 4th quarter. American Century Companies Inc. now owns 12,250,758 shares of the company's stock valued at $30,577,000 after purchasing an additional 459,317 shares in the last quarter. Bank of Montreal Can raised its position in shares of New Gold by 36.9% during the 4th quarter. Bank of Montreal Can now owns 9,703,381 shares of the company's stock worth $24,203,000 after buying an additional 2,613,285 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of New Gold by 97.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company's stock valued at $23,657,000 after purchasing an additional 4,671,399 shares during the last quarter. Institutional investors own 42.82% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NGD. Scotiabank reiterated an "outperform" rating on shares of New Gold in a research note on Monday, April 14th. Raymond James set a $4.00 price target on shares of New Gold and gave the stock a "market perform" rating in a research report on Friday, April 4th. National Bankshares reiterated an "outperform" rating on shares of New Gold in a research report on Wednesday, April 2nd. CIBC increased their target price on New Gold from $3.40 to $4.75 and gave the stock an "outperformer" rating in a research note on Thursday. Finally, New Street Research set a $3.90 price objective on shares of New Gold in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, New Gold has an average rating of "Buy" and an average target price of $4.04.

New Gold Stock Performance

NGD traded down $0.41 during trading on Monday, hitting $3.78. 14,187,459 shares of the company traded hands, compared to its average volume of 12,894,627. The firm has a market cap of $2.99 billion, a P/E ratio of 29.04 and a beta of 0.54. The stock's fifty day moving average is $3.44 and its 200 day moving average is $3.00. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. New Gold Inc. has a one year low of $1.74 and a one year high of $4.21.

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.