PKO Investment Management Joint Stock Co Invests $874,000 in New Gold Inc. (NYSE:NGD)

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

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hillsdale Investment Management Inc. lifted its holdings in shares of New Gold by 97.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company's stock worth $23,657,000 after acquiring an additional 4,671,399 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of New Gold by 97.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company's stock worth $14,742,000 after acquiring an additional 2,931,470 shares during the period. Nokomis Capital L.L.C. lifted its stake in New Gold by 203.8% in the 4th quarter. Nokomis Capital L.L.C. now owns 4,147,296 shares of the company's stock valued at $10,285,000 after purchasing an additional 2,782,296 shares during the last quarter. Renaissance Technologies LLC lifted its stake in New Gold by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock valued at $62,363,000 after purchasing an additional 2,619,782 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in New Gold by 36.9% in the 4th quarter. Bank of Montreal Can now owns 9,703,381 shares of the company's stock valued at $24,203,000 after purchasing an additional 2,613,285 shares during the last quarter. Institutional investors and hedge funds own 42.82% of the company's stock.

New Gold Trading Up 3.1%

Shares of NGD stock traded up $0.14 during trading hours on Monday, hitting $4.59. 39,875,075 shares of the company's stock traded hands, compared to its average volume of 13,439,583. The stock's 50 day simple moving average is $3.76 and its 200 day simple moving average is $3.16. The stock has a market cap of $3.63 billion, a PE ratio of 35.31 and a beta of 0.54. New Gold Inc. has a 12 month low of $1.90 and a 12 month high of $4.72. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. National Bank Financial raised shares of New Gold to a "strong-buy" rating in a research note on Friday, March 21st. Raymond James set a $4.00 price objective on shares of New Gold and gave the company a "market perform" rating in a research note on Friday, April 4th. CIBC increased their price objective on shares of New Gold from $3.40 to $4.75 and gave the company an "outperformer" rating in a research note on Thursday, May 8th. Scotiabank reissued an "outperform" rating on shares of New Gold in a research note on Monday, April 14th. Finally, New Street Research set a $3.90 price objective on shares of New Gold in a research note on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $4.13.

About New Gold

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.