American Century Companies Inc. Raises Stock Holdings in New Gold Inc. $NGD

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. boosted its stake in New Gold Inc. (NYSE:NGD - Free Report) by 23.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,149,653 shares of the company's stock after purchasing an additional 2,898,895 shares during the period. American Century Companies Inc. owned about 1.91% of New Gold worth $56,033,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Oxbow Advisors LLC increased its stake in shares of New Gold by 1.9% during the first quarter. Oxbow Advisors LLC now owns 282,400 shares of the company's stock valued at $1,048,000 after buying an additional 5,400 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in New Gold by 0.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,656 shares of the company's stock worth $2,258,000 after acquiring an additional 7,367 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in New Gold by 11.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 92,967 shares of the company's stock worth $230,000 after acquiring an additional 9,668 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in New Gold in the first quarter worth $37,000. Finally, SIH Partners LLLP bought a new stake in New Gold in the fourth quarter worth $27,000. 42.82% of the stock is owned by hedge funds and other institutional investors.

New Gold Stock Up 1.8%

Shares of NGD traded up $0.10 during midday trading on Friday, reaching $5.54. 12,926,463 shares of the stock were exchanged, compared to its average volume of 19,665,725. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $4.39 billion, a P/E ratio of 42.62 and a beta of 0.38. New Gold Inc. has a 52 week low of $2.31 and a 52 week high of $5.61. The company's 50 day moving average is $4.76 and its two-hundred day moving average is $3.98.

Analyst Upgrades and Downgrades

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

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.