Raymond James Financial Inc. Has $7.47 Million Stock Holdings in New Gold Inc. $NGD

Raymond James Financial Inc. boosted its position in New Gold Inc. (NYSE:NGD - Free Report) by 160.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,012,687 shares of the company's stock after purchasing an additional 1,239,364 shares during the period. Raymond James Financial Inc. owned approximately 0.25% of New Gold worth $7,467,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Oxbow Advisors LLC lifted its position in New Gold by 1.9% in the first quarter. Oxbow Advisors LLC now owns 282,400 shares of the company's stock worth $1,048,000 after purchasing an additional 5,400 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of New Gold by 0.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,656 shares of the company's stock valued at $2,258,000 after buying an additional 7,367 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in shares of New Gold in the first quarter valued at $37,000. Captrust Financial Advisors increased its holdings in shares of New Gold by 24.6% in the fourth quarter. Captrust Financial Advisors now owns 55,700 shares of the company's stock valued at $138,000 after buying an additional 11,000 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in shares of New Gold in the fourth quarter valued at $27,000. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Stock Up 2.6%

Shares of NGD stock traded up $0.16 during trading on Friday, hitting $6.30. 13,884,610 shares of the company were exchanged, compared to its average volume of 19,288,607. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 48.47 and a beta of 0.43. The business's 50-day simple moving average is $4.97 and its 200 day simple moving average is $4.19. New Gold Inc. has a twelve month low of $2.33 and a twelve month high of $6.34.

Analysts Set New Price Targets

NGD has been the topic of several research reports. CIBC upped their price target on New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a report on Tuesday, July 15th. Raymond James Financial raised New Gold to a "hold" rating and set a $4.00 price target on the stock in a report on Monday, June 30th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $4.38.

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.