Foundry Partners LLC Invests $3.96 Million in New Gold Inc. (NYSE:NGD)

Foundry Partners LLC acquired a new stake in shares of New Gold Inc. (NYSE:NGD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,067,500 shares of the company's stock, valued at approximately $3,960,000. Foundry Partners LLC owned approximately 0.13% of New Gold as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of NGD. SIH Partners LLLP acquired a new stake in New Gold during the fourth quarter worth $27,000. Tudor Investment Corp ET AL acquired a new stake in shares of New Gold in the 4th quarter valued at $27,000. Nwam LLC acquired a new stake in shares of New Gold in the 1st quarter valued at $45,000. Samalin Investment Counsel LLC bought a new position in shares of New Gold in the fourth quarter valued at about $32,000. Finally, Private Advisor Group LLC bought a new position in shares of New Gold in the first quarter valued at about $50,000. Institutional investors own 42.82% of the company's stock.

New Gold Stock Performance

NGD traded up $0.09 during trading hours on Tuesday, reaching $4.58. The company's stock had a trading volume of 10,936,841 shares, compared to its average volume of 15,313,455. New Gold Inc. has a 52 week low of $1.94 and a 52 week high of $5.16. The company's 50-day moving average is $4.58 and its 200-day moving average is $3.66. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. The firm has a market cap of $3.62 billion, a PE ratio of 35.20 and a beta of 0.45.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NGD shares. CIBC upped their price target on New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. Scotiabank reiterated an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. Bank of America raised New Gold from an "underperform" rating to a "buy" rating and upped their price target for the stock from $2.60 to $3.90 in a research report on Wednesday, March 26th. New Street Research set a $3.90 price target on New Gold in a research report on Wednesday, March 26th. Finally, Wall Street Zen raised New Gold from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. One research 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. Based on data from MarketBeat, New Gold presently has a consensus rating of "Buy" and a consensus target price 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.