New Gold Inc. (NYSE:NGD) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in New Gold Inc. (NYSE:NGD - Free Report) by 97.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,944,585 shares of the company's stock after buying an additional 2,931,470 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.75% of New Gold worth $14,742,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. DGS Capital Management LLC purchased a new position in shares of New Gold in the fourth quarter valued at approximately $30,000. Samalin Investment Counsel LLC purchased a new position in shares of New Gold in the fourth quarter valued at approximately $32,000. Bank of Nova Scotia purchased a new position in shares of New Gold in the fourth quarter valued at approximately $68,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of New Gold in the fourth quarter valued at approximately $74,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of New Gold in the fourth quarter valued at approximately $87,000. Hedge funds and other institutional investors own 42.82% of the company's stock.

New Gold Stock Performance

Shares of NGD traded down $0.13 during midday trading on Wednesday, reaching $3.76. 12,837,125 shares of the stock were exchanged, compared to its average volume of 12,957,428. The business's 50-day moving average price is $3.48 and its 200 day moving average price is $3.02. 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 twelve month low of $1.74 and a twelve month high of $4.21. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 28.89 and a beta of 0.54.

Analysts Set New Price Targets

NGD has been the subject of a number of research reports. CIBC lifted their price objective on New Gold from $3.40 to $4.75 and gave the company an "outperformer" rating in a research note on Thursday, May 8th. Raymond James set a $4.00 price objective on New Gold and gave the company a "market perform" rating in a research note on Friday, April 4th. Bank of America raised New Gold from an "underperform" rating to a "buy" rating and lifted their price objective for the company from $2.60 to $3.90 in a research note on Wednesday, March 26th. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a research note on Wednesday, April 2nd. Finally, National Bank Financial upgraded New Gold to a "strong-buy" rating in a report on Friday, March 21st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $4.04.

New Gold Company 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.