Financial Counselors Inc. Invests $289,000 in New Gold Inc. (NYSE:NGD)

Financial Counselors Inc. acquired a new stake in shares of New Gold Inc. (NYSE:NGD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 78,000 shares of the company's stock, valued at approximately $289,000.

A number of other institutional investors and hedge funds also recently modified their holdings of NGD. Bank of New York Mellon Corp increased its position in New Gold by 11.9% during the 4th quarter. Bank of New York Mellon Corp now owns 50,292 shares of the company's stock worth $125,000 after purchasing an additional 5,331 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in New Gold by 0.8% during the 4th 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 purchasing an additional 7,367 shares in the last quarter. Swiss National Bank increased its position in New Gold by 0.6% during the 4th quarter. Swiss National Bank now owns 1,566,862 shares of the company's stock worth $3,911,000 after purchasing an additional 9,500 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in New Gold by 11.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 92,967 shares of the company's stock worth $230,000 after purchasing an additional 9,668 shares in the last quarter. Finally, SIH Partners LLLP acquired a new stake in New Gold during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 42.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NGD. New Street Research set a $3.90 price objective on shares of New Gold in a research report on Wednesday, March 26th. Scotiabank reaffirmed an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and raised their price target for the stock from $2.60 to $3.90 in a research report on Wednesday, March 26th. Raymond James Financial upgraded New Gold to a "hold" rating and set a $4.00 target price on the stock in a research note on Monday, June 30th. Finally, CIBC raised their price target on New Gold from $3.40 to $4.75 and gave the company an "outperformer" rating in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $4.13.

New Gold Stock Down 1.9%

Shares of NYSE NGD traded down $0.09 during mid-day trading on Monday, reaching $4.61. 10,727,542 shares of the company's stock were exchanged, compared to its average volume of 15,216,379. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 35.46 and a beta of 0.45. 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 business has a fifty day simple moving average of $4.54 and a 200 day simple moving average of $3.59. New Gold Inc. has a twelve month low of $1.94 and a twelve month high of $5.16.

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.