New Gold Inc. $NGD Shares Purchased by Deutsche Bank AG

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 grew its holdings in shares of New Gold Inc. (NYSE:NGD - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,504,806 shares of the company's stock after purchasing an additional 79,385 shares during the period. Deutsche Bank AG owned approximately 0.44% of New Gold worth $13,003,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SIH Partners LLLP purchased a new stake in shares of New Gold during the 4th quarter valued at $27,000. Tudor Investment Corp ET AL purchased a new stake in shares of New Gold during the 4th quarter valued at $27,000. Cary Street Partners Financial LLC purchased a new stake in shares of New Gold during the 1st quarter valued at $37,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of New Gold during the 4th quarter valued at $39,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of New Gold during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 42.82% of the company's stock.

Wall Street Analysts Forecast Growth

NGD has been the subject of several analyst reports. National Bankshares reiterated an "outperform" rating on shares of New Gold in a report on Tuesday, June 24th. CIBC raised their target price on New Gold from $5.50 to $6.25 and gave the stock an "outperformer" rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded New Gold from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Raymond James Financial upgraded New Gold to a "hold" rating and set a $4.00 target price for the company in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, New Gold presently has a consensus rating of "Buy" and an average price target of $4.38.

New Gold Stock Performance

Shares of NYSE NGD traded down $0.0150 during trading on Tuesday, reaching $5.1850. 3,790,822 shares of the company traded hands, compared to its average volume of 19,733,205. The firm's fifty day simple moving average is $4.72 and its 200 day simple moving average is $3.93. The stock has a market cap of $4.10 billion, a P/E ratio of 39.83 and a beta of 0.38. New Gold Inc. has a 12-month low of $2.31 and a 12-month high of $5.33. 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 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.