New Gold Inc. (NYSE:NGD) Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of New Gold Inc. (NYSE:NGD - Free Report) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,815,649 shares of the company's stock after purchasing an additional 127,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.23% of New Gold worth $4,503,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. acquired a new position in New Gold during the fourth quarter worth $87,000. Russell Investments Group Ltd. raised its stake in shares of New Gold by 213.8% in the fourth quarter. Russell Investments Group Ltd. now owns 512,510 shares of the company's stock valued at $1,273,000 after acquiring an additional 349,167 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of New Gold in the fourth quarter valued at $1,918,000. Renaissance Technologies LLC raised its stake in shares of New Gold by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock valued at $62,363,000 after acquiring an additional 2,619,782 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of New Gold by 97.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company's stock valued at $14,742,000 after acquiring an additional 2,931,470 shares in the last quarter. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Stock Performance

Shares of NGD stock traded up $0.09 during mid-day trading on Friday, hitting $4.30. 23,455,191 shares of the stock were exchanged, compared to its average volume of 13,203,161. The stock's fifty day simple moving average is $3.63 and its two-hundred day simple moving average is $3.08. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 33.08 and a beta of 0.54. New Gold Inc. has a 12-month low of $1.90 and a 12-month high of $4.34. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39.

Analysts Set New Price Targets

NGD has been the topic of several analyst reports. CIBC increased their price objective on New Gold from $3.40 to $4.75 and gave the company an "outperformer" rating in a research note on Thursday, May 8th. Bank of America upgraded New Gold from an "underperform" rating to a "buy" rating and increased their price objective for the company from $2.60 to $3.90 in a research note on Wednesday, March 26th. Raymond James set a $4.00 price objective on New Gold and gave the company a "market perform" rating in a research note on Friday, April 4th. Scotiabank reiterated an "outperform" rating on shares of New Gold in a research note on Monday, April 14th. Finally, Wall Street Zen raised New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $4.04.

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.