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PKO Investment Management Joint Stock Co Purchases Shares of 350,000 New Gold Inc. (NYSE:NGD)

New Gold logo with Basic Materials background

PKO Investment Management Joint Stock Co acquired a new stake in shares of New Gold Inc. (NYSE:NGD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 350,000 shares of the company's stock, valued at approximately $874,000.

Several other institutional investors and hedge funds have also bought and sold shares of NGD. SIH Partners LLLP bought a new position in shares of New Gold in the fourth quarter worth $27,000. Tudor Investment Corp ET AL purchased a new position in New Gold during the fourth quarter worth about $27,000. Samalin Investment Counsel LLC bought a new position in New Gold in the 4th quarter worth about $32,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of New Gold in the 4th quarter valued at about $39,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of New Gold in the 4th quarter valued at about $43,000. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Raymond James set a $4.00 price objective on New Gold and gave the stock a "market perform" rating in a report on Friday, April 4th. New Street Research set a $3.90 target price on shares of New Gold in a research report on Wednesday, March 26th. National Bankshares reissued an "outperform" rating on shares of New Gold in a report on Wednesday, April 2nd. Scotiabank restated an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. Finally, National Bank Financial raised shares of New Gold to a "strong-buy" rating in a report on Friday, March 21st. One analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $4.13.

Read Our Latest Research Report on New Gold

New Gold Price Performance

NGD traded up $0.15 during midday trading on Monday, hitting $4.60. The stock had a trading volume of 21,842,749 shares, compared to its average volume of 20,010,004. The company has a market cap of $3.64 billion, a P/E ratio of 35.35 and a beta of 0.54. The business has a fifty day moving average of $3.74 and a 200 day moving average of $3.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. New Gold Inc. has a 1 year low of $1.90 and a 1 year high of $4.72.

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

Institutional Ownership by Quarter for New Gold (NYSE:NGD)

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