New Gold Inc. (NYSE:NGD) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. trimmed its stake in New Gold Inc. (NYSE:NGD - Free Report) by 34.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,882,121 shares of the company's stock after selling 2,615,096 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.62% of New Gold worth $12,130,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SIH Partners LLLP acquired a new position in New Gold in the fourth quarter worth approximately $27,000. Tudor Investment Corp ET AL bought a new position in shares of New Gold in the 4th quarter valued at approximately $27,000. DGS Capital Management LLC bought a new position in New Gold in the 4th quarter worth $30,000. Samalin Investment Counsel LLC bought a new position in New Gold in the 4th quarter worth approximately $32,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of New Gold in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 42.82% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on NGD shares. New Street Research set a $3.90 target price on shares of New Gold in a research report on Wednesday, March 26th. Scotiabank reiterated an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. StockNews.com upgraded New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Bank of America upgraded New Gold from an "underperform" rating to a "buy" rating and lifted their price target for the stock from $2.60 to $3.90 in a report on Wednesday, March 26th. Finally, Raymond James set a $4.00 target price on shares of New Gold and gave the stock a "market perform" rating in a report on Friday, April 4th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $4.04.

New Gold Stock Up 3.1%

NYSE:NGD traded up $0.12 during midday trading on Monday, reaching $3.89. The company had a trading volume of 4,359,792 shares, compared to its average volume of 13,014,295. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. New Gold Inc. has a 12-month low of $1.86 and a 12-month high of $4.21. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 29.81 and a beta of 0.54. The stock's fifty day simple moving average is $3.54 and its 200-day simple moving average is $3.04.

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.