New Gold Inc. $NGD Shares Purchased by Credit Agricole S A

Key Points

• Credit Agricole S A increased its holdings in New Gold Inc. by 122.4% during the 1st quarter, now owning approximately 0.12% of the company, valued at $3,414,000.
• Several hedge funds, including LPL Financial LLC and Geode Capital Management LLC, have also increased their positions in New Gold during the last quarters.
• Analysts have a consensus rating of "Buy" for New Gold, with an average target price of $4.38, following recent upgrades by firms such as CIBC and Raymond James Financial.

Credit Agricole S A raised its stake in New Gold Inc. (NYSE:NGD - Free Report) by 122.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 920,212 shares of the company's stock after acquiring an additional 506,441 shares during the quarter. Credit Agricole S A owned approximately 0.12% of New Gold worth $3,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NGD. JGP Global Gestao de Recursos Ltda. increased its position in 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 worth $39,652,000 after purchasing an additional 4,187,997 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of New Gold by 97.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company's stock worth $14,742,000 after buying an additional 2,931,470 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of New Gold by 23.7% during the first quarter. American Century Companies Inc. now owns 15,149,653 shares of the company's stock worth $56,033,000 after buying an additional 2,898,895 shares in the last quarter. Nokomis Capital L.L.C. raised its position in shares of New Gold by 203.8% in the fourth quarter. Nokomis Capital L.L.C. now owns 4,147,296 shares of the company's stock valued at $10,285,000 after buying an additional 2,782,296 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of New Gold by 46.2% during the fourth 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 period. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NGD. Wall Street Zen raised shares of New Gold from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. National Bankshares restated an "outperform" rating on shares of New Gold in a report on Tuesday, June 24th. CIBC lifted their price target on shares of New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a report on Tuesday, July 15th. Finally, Raymond James Financial raised New Gold to a "hold" rating and set a $4.00 price target for the company in a research report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $4.38.

New Gold Stock Down 0.1%

NGD traded down $0.01 during trading hours on Wednesday, reaching $5.71. 6,262,397 shares of the stock traded hands, compared to its average volume of 19,461,570. New Gold Inc. has a fifty-two week low of $2.31 and a fifty-two week high of $5.72. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 43.96 and a beta of 0.38. 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 firm's fifty day simple moving average is $4.79 and its two-hundred day simple moving average is $4.03.

New Gold Company Profile

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.