Deutsche Bank AG Purchases 79,385 Shares of New Gold Inc. (NYSE:NGD)

Key Points

• Deutsche Bank AG increased its holdings in New Gold Inc. by 2.3% during the 1st quarter, owning approximately 0.44% of the company valued at about $13 million.
• Multiple large investors, including JGP Global and Dimensional Fund Advisors, significantly boosted their stakes in New Gold, reflecting growing institutional interest with 42.82% of the stock being owned by institutional investors and hedge funds.
• New Gold's stock recently saw a 2.2% increase, trading at $5.21, with analysts generally maintaining a consensus rating of "Buy" and a price target of $4.38.

Deutsche Bank AG boosted its stake in New Gold Inc. (NYSE:NGD - Free Report) by 2.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,504,806 shares of the company's stock after purchasing an additional 79,385 shares during the quarter. Deutsche Bank AG owned about 0.44% of New Gold worth $13,003,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC lifted its position in New Gold by 9.3% during the fourth quarter. LPL Financial LLC now owns 143,964 shares of the company's stock valued at $357,000 after buying an additional 12,292 shares in the last quarter. Geode Capital Management LLC lifted its position in New Gold by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 391,274 shares of the company's stock valued at $987,000 after buying an additional 18,901 shares in the last quarter. Russell Investments Group Ltd. lifted its position in New Gold by 213.8% during the fourth quarter. Russell Investments Group Ltd. now owns 512,510 shares of the company's stock valued at $1,273,000 after buying an additional 349,167 shares in the last quarter. Invesco Ltd. lifted its position in New Gold by 3.6% during the fourth quarter. Invesco Ltd. now owns 13,481,005 shares of the company's stock valued at $33,433,000 after buying an additional 469,748 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in New Gold during the fourth quarter valued at approximately $1,918,000. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

New Gold Trading Up 2.2%

NGD stock traded up $0.11 during mid-day trading on Friday, reaching $5.21. 15,591,150 shares of the stock traded hands, compared to its average volume of 19,906,311. 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 52-week low of $2.31 and a 52-week high of $5.33. The company has a market cap of $4.12 billion, a P/E ratio of 40.08 and a beta of 0.38. The stock's fifty day moving average is $4.71 and its 200-day moving average is $3.91.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of New Gold from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Raymond James Financial raised shares of 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 boosted their target price on shares of New Gold from $5.50 to $6.25 and gave the stock an "outperformer" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $4.38.

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.