MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of New Gold Inc. (NYSE:NGD - Free Report) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,815,649 shares of the company's stock after purchasing an additional 127,000 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.23% of New Gold worth $4,503,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in NGD. Hillsdale Investment Management Inc. grew its holdings in shares of New Gold by 97.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company's stock valued at $23,657,000 after purchasing an additional 4,671,399 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of New Gold by 97.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company's stock valued at $14,742,000 after purchasing an additional 2,931,470 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of New Gold by 11.6% during the 4th quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock valued at $62,363,000 after purchasing an additional 2,619,782 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of New Gold by 36.9% during the 4th quarter. Bank of Montreal Can now owns 9,703,381 shares of the company's stock valued at $24,203,000 after purchasing an additional 2,613,285 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of New Gold by 46.2% during the 4th quarter. Bank of America Corp DE now owns 7,925,231 shares of the company's stock valued at $19,655,000 after purchasing an additional 2,504,157 shares during the last quarter. 42.82% of the stock is owned by institutional investors.
New Gold Stock Down 2.3%
New Gold stock opened at $3.77 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. New Gold Inc. has a 52-week low of $1.86 and a 52-week high of $4.21. The firm has a 50 day moving average price of $3.54 and a two-hundred day moving average price of $3.04. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 29.00 and a beta of 0.54.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a research report on Friday, March 21st. New Street Research set a $3.90 target price on shares of New Gold in a research report on Wednesday, March 26th. CIBC lifted their target price on shares of New Gold from $3.40 to $4.75 and gave the stock an "outperformer" rating in a research report on Thursday, May 8th. Raymond James set a $4.00 target price on shares of New Gold and gave the stock a "market perform" rating in a research report on Friday, April 4th. Finally, Scotiabank reiterated an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $4.04.
Get Our Latest Stock Analysis on New Gold
About New Gold
(
Free Report)
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.
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