New Gold Inc. $NGD Position Trimmed by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its holdings in New Gold Inc. by 15.5%, selling 281,870 shares and now owns 1,533,779 shares valued at approximately $5.69 million.
• Institutional investors now control 42.82% of New Gold's stock, with several other hedge funds like Amundi and Federation des caisses Desjardins du Quebec significantly increasing their stakes in the company.
• Analyst ratings for New Gold show an overall "Buy" sentiment, with a recent price target increase from $5.50 to $6.25 by CIBC.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in shares of New Gold Inc. (NYSE:NGD - Free Report) by 15.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,533,779 shares of the company's stock after selling 281,870 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.19% of New Gold worth $5,690,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Invesco Ltd. grew its position in shares of New Gold by 16.9% during the 1st quarter. Invesco Ltd. now owns 15,761,737 shares of the company's stock valued at $58,476,000 after buying an additional 2,280,732 shares during the last quarter. American Century Companies Inc. grew its position in shares of New Gold by 23.7% during the 1st quarter. American Century Companies Inc. now owns 15,149,653 shares of the company's stock valued at $56,033,000 after buying an additional 2,898,895 shares during the last quarter. JGP Global Gestao de Recursos Ltda. grew its position in shares of New Gold by 64.4% during the 1st quarter. JGP Global Gestao de Recursos Ltda. now owns 10,687,997 shares of the company's stock valued at $39,652,000 after buying an additional 4,187,997 shares during the last quarter. Amundi grew its position in shares of New Gold by 42.2% during the 1st quarter. Amundi now owns 8,356,029 shares of the company's stock valued at $29,580,000 after buying an additional 2,478,303 shares during the last quarter. Finally, Bank of America Corp DE grew its position 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 buying an additional 2,504,157 shares during the last quarter. Institutional investors own 42.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NGD shares. Raymond James Financial raised shares of New Gold to a "hold" rating and set a $4.00 target price for the company in a research note on Monday, June 30th. National Bankshares reissued an "outperform" rating on shares of New Gold in a research note on Tuesday. Finally, CIBC boosted their target price on shares of New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $4.56.

New Gold Price Performance

Shares of NYSE:NGD traded down $0.01 during trading on Friday, reaching $6.52. The company had a trading volume of 11,331,498 shares, compared to its average volume of 19,196,229. The firm's fifty day moving average is $5.13 and its 200 day moving average is $4.31. The firm has a market capitalization of $5.16 billion, a PE ratio of 50.16 and a beta of 0.43. New Gold Inc. has a twelve month low of $2.43 and a twelve month high of $6.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39.

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.