New Gold Inc. $NGD Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP has reduced its stake in New Gold Inc. by 66.1%, holding 174,299 shares valued at $647,000 after selling 339,103 shares in the first quarter.
• Research analysts have upgraded New Gold, with a consensus rating of "Buy" and an average price target set at $4.38.
• Currently, New Gold shares are trading at $5.53, with a market capitalization of $4.38 billion and a 52-week peak of $5.61.

Quantbot Technologies LP trimmed its position in shares of New Gold Inc. (NYSE:NGD - Free Report) by 66.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,299 shares of the company's stock after selling 339,103 shares during the quarter. Quantbot Technologies LP's holdings in New Gold were worth $647,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NGD. Financial Sense Advisors Inc. acquired a new stake in New Gold in the 1st quarter valued at $652,000. Foundry Partners LLC acquired a new stake in New Gold in the 1st quarter valued at $3,960,000. Dimensional Fund Advisors LP grew its stake in New Gold by 97.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company's stock valued at $14,742,000 after acquiring an additional 2,931,470 shares during the period. Captrust Financial Advisors grew its stake in New Gold by 24.6% in the 4th quarter. Captrust Financial Advisors now owns 55,700 shares of the company's stock valued at $138,000 after acquiring an additional 11,000 shares during the period. Finally, Ritholtz Wealth Management acquired a new stake in New Gold in the 1st quarter valued at $116,000. 42.82% of the stock is owned by hedge funds and other institutional investors.

New Gold Stock Up 3.9%

NYSE:NGD traded up $0.22 during mid-day trading on Friday, hitting $5.90. The stock had a trading volume of 13,413,867 shares, compared to its average volume of 19,371,412. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. New Gold Inc. has a twelve month low of $2.31 and a twelve month high of $5.92. The company has a market capitalization of $4.67 billion, a PE ratio of 45.39 and a beta of 0.38. The stock has a 50-day simple moving average of $4.82 and a two-hundred day simple moving average of $4.05.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NGD shares. Raymond James Financial raised shares of New Gold to a "hold" rating and set a $4.00 price target on the stock in a research note on Monday, June 30th. Wall Street Zen raised shares of New Gold from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. CIBC lifted their price target on shares of New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $4.38.

New Gold Company 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.