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Montrusco Bolton Investments Inc. Sells 847,324 Shares of New Gold Inc. (NYSE:NGD)

New Gold logo with Basic Materials background

Montrusco Bolton Investments Inc. trimmed its stake in New Gold Inc. (NYSE:NGD - Free Report) by 16.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,395,223 shares of the company's stock after selling 847,324 shares during the quarter. Montrusco Bolton Investments Inc. owned approximately 0.56% of New Gold worth $16,246,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SIH Partners LLLP purchased a new position in New Gold in the 4th quarter worth about $27,000. Tudor Investment Corp ET AL purchased a new position in New Gold during the 4th quarter valued at about $27,000. Samalin Investment Counsel LLC purchased a new position in New Gold during the 4th quarter valued at about $32,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of New Gold during the 4th quarter valued at about $39,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of New Gold during the 4th quarter valued at about $43,000. 42.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Raymond James Financial upgraded 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 boosted their price objective on New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a research report on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of New Gold in a research report on Tuesday, June 24th. Finally, Scotiabank reiterated an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $4.38.

Check Out Our Latest Analysis on NGD

New Gold Trading Down 0.9%

Shares of NGD traded down $0.04 during trading hours on Friday, hitting $4.30. 11,835,856 shares of the stock traded hands, compared to its average volume of 15,325,666. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. New Gold Inc. has a 1-year low of $1.94 and a 1-year high of $5.16. The firm has a market capitalization of $3.40 billion, a PE ratio of 33.08 and a beta of 0.45. The business has a fifty day moving average of $4.58 and a 200-day moving average of $3.66.

New Gold Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for New Gold (NYSE:NGD)

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