New Gold Inc. $NGD Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in New Gold Inc. by 23.7% during the first quarter, now holding approximately 1.91% of the company worth $56.03 million.
• New Gold has experienced recent upgrades from analysts, with an average rating of "Buy" and a consensus price target of $4.38.
• The company's stock opened at $5.13, down 1.3%, with a market capitalization of $4.06 billion and a 52-week high of $5.33.

American Century Companies Inc. lifted its holdings in shares of New Gold Inc. (NYSE:NGD - Free Report) by 23.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,149,653 shares of the company's stock after purchasing an additional 2,898,895 shares during the quarter. American Century Companies Inc. owned about 1.91% of New Gold worth $56,033,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NGD. SIH Partners LLLP purchased a new stake in New Gold in the 4th quarter valued at about $27,000. Tudor Investment Corp ET AL acquired a new stake in shares of New Gold in the fourth quarter worth approximately $27,000. Cary Street Partners Financial LLC acquired a new stake in shares of New Gold in the first quarter worth approximately $37,000. Schonfeld Strategic Advisors LLC purchased a new stake in New Gold in the fourth quarter valued at approximately $39,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in New Gold in the fourth quarter valued at approximately $43,000. 42.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NGD. Wall Street Zen raised shares of New Gold from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Raymond James Financial raised New Gold to a "hold" rating and set a $4.00 target price on the stock in a research report on Monday, June 30th. National Bankshares reissued an "outperform" rating on shares of New Gold in a research report on Tuesday, June 24th. Finally, CIBC upped their price target on New Gold from $5.50 to $6.25 and gave the stock an "outperformer" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $4.38.

New Gold Stock Down 0.2%

New Gold stock traded down $0.01 during midday trading on Monday, hitting $5.53. 8,734,969 shares of the company were exchanged, compared to its average volume of 19,597,867. The company has a market cap of $4.38 billion, a PE ratio of 42.54 and a beta of 0.38. New Gold Inc. has a fifty-two week low of $2.31 and a fifty-two week high of $5.61. The company's fifty day moving average price is $4.77 and its 200-day moving average price is $4.01. 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 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.