New Gold Inc. (NYSE:NGD) Shares Bought by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC significantly increased its holdings in New Gold Inc. by 520.8% during the 1st quarter, accumulating a total of 131,268 shares valued at approximately $487,000.
• Wall Street analysts show a consensus rating of "Buy" for New Gold Inc., with the average target price set at $4.38.
• The stock of New Gold Inc. is currently trading at $4.88, with a 52-week range between $2.12 and $5.16.

Headlands Technologies LLC grew its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 520.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 131,268 shares of the company's stock after acquiring an additional 110,124 shares during the quarter. Headlands Technologies LLC's holdings in New Gold were worth $487,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SIH Partners LLLP acquired a new stake in shares of New Gold during the fourth quarter worth about $27,000. Tudor Investment Corp ET AL acquired a new stake in shares of New Gold during the fourth quarter worth about $27,000. Cary Street Partners Financial LLC acquired a new stake in shares of New Gold during the first quarter worth about $37,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of New Gold during the fourth quarter worth about $39,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of New Gold during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 42.82% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NGD. Raymond James Financial upgraded New Gold to a "hold" rating and set a $4.00 price target for the company in a research report on Monday, June 30th. National Bankshares reiterated an "outperform" rating on shares of New Gold in a research report on Tuesday, June 24th. Wall Street Zen upgraded New Gold from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, CIBC lifted their price target on New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $4.38.

New Gold Price Performance

Shares of New Gold stock traded up $0.08 on Wednesday, reaching $5.04. The company's stock had a trading volume of 10,772,276 shares, compared to its average volume of 19,949,830. The company has a market capitalization of $3.99 billion, a P/E ratio of 38.76 and a beta of 0.38. New Gold Inc. has a 52-week low of $2.31 and a 52-week high of $5.16. The stock has a 50-day moving average price of $4.69 and a 200-day moving average price of $3.86. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

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.