Northwest & Ethical Investments L.P. decreased its position in New Gold Inc. (NYSE:NGD - Free Report) by 28.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 302,062 shares of the company's stock after selling 122,072 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in New Gold were worth $1,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in NGD. SIH Partners LLLP bought a new stake in New Gold in the 4th quarter worth approximately $27,000. Tudor Investment Corp ET AL bought a new position in shares of New Gold during the 4th quarter valued at approximately $27,000. Cary Street Partners Financial LLC bought a new position in shares of New Gold during the 1st quarter valued at approximately $37,000. Schonfeld Strategic Advisors LLC bought a new position in shares of New Gold during the 4th quarter valued at approximately $39,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of New Gold during the 4th quarter valued at approximately $43,000. Institutional investors own 42.82% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on NGD. Raymond James Financial raised New Gold to a "hold" rating and set a $4.00 target price on the stock in a research report on Monday, June 30th. National Bankshares reissued an "outperform" rating on shares of New Gold in a research report on Tuesday, June 24th. CIBC boosted their target price on New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen upgraded New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, New Gold currently has a consensus rating of "Buy" and an average price target of $4.38.
Check Out Our Latest Analysis on New Gold
New Gold Trading Up 1.8%
NGD traded up $0.10 during trading hours on Friday, reaching $5.54. 12,926,463 shares of the company's stock traded hands, compared to its average volume of 19,665,725. The firm has a 50-day moving average price of $4.76 and a 200 day moving average price of $3.98. New Gold Inc. has a 52-week low of $2.31 and a 52-week high of $5.61. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $4.39 billion, a PE ratio of 42.62 and a beta of 0.38.
New Gold Profile
(
Free Report)
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.
Further Reading
Before you consider New Gold, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Gold wasn't on the list.
While New Gold currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access