Dauntless Investment Group LLC Takes Position in New Gold Inc. (NYSE:NGD)

Dauntless Investment Group LLC purchased a new stake in New Gold Inc. (NYSE:NGD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 160,696 shares of the company's stock, valued at approximately $399,000.

Several other large investors also recently made changes to their positions in NGD. Geode Capital Management LLC grew its holdings in New Gold by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 372,373 shares of the company's stock valued at $1,084,000 after purchasing an additional 7,394 shares in the last quarter. Virtu Financial LLC acquired a new stake in New Gold during the 3rd quarter valued at approximately $941,000. Lord Abbett & CO. LLC purchased a new stake in New Gold during the 3rd quarter worth approximately $4,435,000. DGS Capital Management LLC acquired a new stake in shares of New Gold during the fourth quarter worth approximately $30,000. Finally, Caprock Group LLC raised its holdings in New Gold by 118.2% in the fourth quarter. Caprock Group LLC now owns 1,745,627 shares of the company's stock valued at $4,329,000 after acquiring an additional 945,453 shares in the last quarter. Institutional investors and hedge funds own 42.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. New Street Research set a $3.90 target price on shares of New Gold in a research note on Wednesday, March 26th. Scotiabank reiterated an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. Raymond James set a $4.00 price target on New Gold and gave the company a "market perform" rating in a research report on Friday, April 4th. Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and lifted their price objective for the stock from $2.60 to $3.90 in a report on Wednesday, March 26th. Finally, CIBC reduced their price target on shares of New Gold from $3.60 to $3.40 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $3.85.

New Gold Stock Performance

NGD traded down $0.05 during trading hours on Tuesday, hitting $3.33. The company's stock had a trading volume of 8,008,779 shares, compared to its average volume of 12,032,471. 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 fifty-two week low of $1.73 and a fifty-two week high of $3.86. The company has a 50-day simple moving average of $3.23 and a 200 day simple moving average of $2.94. The firm has a market capitalization of $2.63 billion, a PE ratio of 25.58 and a beta of 0.93.

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.