Groupe la Francaise Acquires 50,000 Shares of New Gold Inc. $NGD

Key Points

• Groupe la Francaise has increased its stake in New Gold Inc. by 2.8%, acquiring an additional 50,000 shares during the first quarter, now totaling 1,850,000 shares.
• Wall Street analysts exhibit a generally positive outlook for New Gold, with an average rating of "Buy" and a target price of $4.38.
• New Gold's stock opened at $5.54 and has experienced a 12-month range between $2.31 and $5.61.

Groupe la Francaise lifted its stake in shares of New Gold Inc. (NYSE:NGD - Free Report) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,850,000 shares of the company's stock after acquiring an additional 50,000 shares during the period. Groupe la Francaise owned approximately 0.23% of New Gold worth $6,645,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NGD. Tudor Investment Corp ET AL bought a new position in New Gold during the 4th quarter worth about $27,000. Cary Street Partners Financial LLC acquired a new position in shares of New Gold during the first quarter worth about $37,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of New Gold during the fourth quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in New Gold in the 4th quarter valued at approximately $43,000. Finally, Nwam LLC acquired a new stake in New Gold in the 1st quarter valued at approximately $45,000. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Stock Down 0.4%

NGD traded down $0.02 during trading on Wednesday, reaching $5.69. 8,761,412 shares of the stock were exchanged, compared to its average volume of 19,470,637. 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 stock's 50 day moving average price is $4.79 and its two-hundred day moving average price is $4.03. New Gold Inc. has a twelve month low of $2.31 and a twelve month high of $5.72. The stock has a market cap of $4.50 billion, a P/E ratio of 43.77 and a beta of 0.38.

Analysts Set New Price Targets

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