National Bank of Canada FI raised its position in New Gold Inc. (NYSE:NGD - Free Report) by 32.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,008,516 shares of the company's stock after purchasing an additional 729,501 shares during the quarter. National Bank of Canada FI owned about 0.38% of New Gold worth $11,122,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. SIH Partners LLLP bought a new stake in New Gold during the fourth quarter worth approximately $27,000. Tudor Investment Corp ET AL acquired a new position in New Gold in the 4th quarter worth approximately $27,000. Cary Street Partners Financial LLC acquired a new position in New Gold in the 1st quarter worth approximately $37,000. Schonfeld Strategic Advisors LLC acquired a new position in New Gold in the 4th quarter worth approximately $39,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in New Gold in the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 42.82% of the company's stock.
New Gold Stock Performance
NYSE NGD traded up $0.11 on Friday, hitting $5.21. 15,591,150 shares of the stock were exchanged, compared to its average volume of 19,906,311. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. The business's fifty day moving average is $4.71 and its 200 day moving average is $3.91. New Gold Inc. has a 52 week low of $2.31 and a 52 week high of $5.33. The company has a market capitalization of $4.12 billion, a PE ratio of 40.08 and a beta of 0.38.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the stock. Raymond James Financial upgraded shares of New Gold to a "hold" rating and set a $4.00 price target on the stock in a report on Monday, June 30th. Wall Street Zen upgraded shares of New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. CIBC lifted their target price on shares of New Gold from $5.50 to $6.25 and gave the stock an "outperformer" rating in a report on Tuesday, July 15th. Finally, National Bankshares restated an "outperform" rating on shares of New Gold in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $4.38.
Read Our Latest Report on New Gold
New Gold 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.
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