New Gold Inc. (NYSE:NGD) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its stake in New Gold Inc. (NYSE:NGD - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,251,786 shares of the company's stock after selling 1,747,750 shares during the period. Mackenzie Financial Corp owned about 1.68% of New Gold worth $33,060,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in New Gold by 0.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,471,000 shares of the company's stock valued at $3,669,000 after acquiring an additional 4,500 shares during the last quarter. Oxbow Advisors LLC lifted its position in New Gold by 1.7% in the fourth quarter. Oxbow Advisors LLC now owns 277,000 shares of the company's stock valued at $687,000 after acquiring an additional 4,624 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of New Gold by 11.9% in the fourth quarter. Bank of New York Mellon Corp now owns 50,292 shares of the company's stock valued at $125,000 after buying an additional 5,331 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 during the last quarter. Finally, Swiss National Bank raised its holdings in shares of New Gold by 0.6% in the fourth quarter. Swiss National Bank now owns 1,566,862 shares of the company's stock valued at $3,911,000 after buying an additional 9,500 shares during the last quarter. 42.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a report on Wednesday, April 2nd. National Bank Financial raised shares of New Gold to a "strong-buy" rating in a report on Friday, March 21st. Wall Street Zen raised shares of New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and upped their target price for the company from $2.60 to $3.90 in a report on Wednesday, March 26th. Finally, New Street Research set a $3.90 target price on shares of New Gold in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, New Gold currently has an average rating of "Buy" and an average price target of $4.04.

New Gold Price Performance

NGD traded down $0.04 on Friday, hitting $4.36. 15,936,402 shares of the company were exchanged, compared to its average volume of 13,322,948. 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 business's fifty day moving average is $3.71 and its 200 day moving average is $3.13. New Gold Inc. has a fifty-two week low of $1.90 and a fifty-two week high of $4.45. The firm has a market capitalization of $3.45 billion, a P/E ratio of 33.49 and a beta of 0.54.

New Gold 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.