Millennium Management LLC Has $2.33 Million Stock Holdings in New Gold Inc. (NYSE:NGD)

Millennium Management LLC lowered its position in shares of New Gold Inc. (NYSE:NGD - Free Report) by 68.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 938,045 shares of the company's stock after selling 2,057,208 shares during the period. Millennium Management LLC owned 0.12% of New Gold worth $2,333,000 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 position in shares of New Gold during the fourth quarter worth approximately $27,000. Tudor Investment Corp ET AL bought a new position in New Gold during the 4th quarter worth $27,000. Samalin Investment Counsel LLC bought a new position in New Gold during the 4th quarter worth $32,000. Schonfeld Strategic Advisors LLC bought a new position in New Gold during the 4th quarter worth $39,000. Finally, Bank of Nova Scotia bought a new position in New Gold during the 4th quarter worth $68,000. Institutional investors own 42.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NGD. Raymond James set a $4.00 price objective on New Gold and gave the stock a "market perform" rating in a research note on Friday, April 4th. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a report on Wednesday, April 2nd. CIBC raised their target price on New Gold from $3.40 to $4.75 and gave the company an "outperformer" rating in a report on Thursday, May 8th. Wall Street Zen raised New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, National Bank Financial raised New Gold to a "strong-buy" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $4.13.

New Gold Price Performance

Shares of NYSE NGD traded up $0.21 during mid-day trading on Thursday, hitting $4.90. 41,931,146 shares of the stock traded hands, compared to its average volume of 13,702,153. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. New Gold Inc. has a twelve month low of $1.90 and a twelve month high of $4.93. The company has a market cap of $3.88 billion, a PE ratio of 37.70 and a beta of 0.44. The firm has a 50 day simple moving average of $3.83 and a two-hundred day simple moving average of $3.20.

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.