New Gold Inc. (NYSE:NGD) Shares Acquired by Ruffer LLP

Key Points

• Ruffer LLP increased its holdings in New Gold Inc. (NYSE:NGD) by 166.9% in the first quarter, owning 3,203,070 shares valued at approximately $11.88 million.
• Other institutional investors have also significantly increased their stakes, with Dimensional Fund Advisors boosting theirs by 97.3%, now holding shares worth $14.74 million.
• The company has received positive ratings from analysts, with a consensus price target of $4.38 and one analyst upgrading it to a 'buy' rating.

Ruffer LLP increased its holdings in shares of New Gold Inc. (NYSE:NGD - Free Report) by 166.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,203,070 shares of the company's stock after purchasing an additional 2,003,070 shares during the quarter. Ruffer LLP owned approximately 0.40% of New Gold worth $11,883,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NGD. SIH Partners LLLP purchased a new stake in New Gold in the fourth quarter valued at approximately $27,000. Tudor Investment Corp ET AL purchased a new stake in New Gold in the fourth quarter valued at approximately $27,000. Schonfeld Strategic Advisors LLC purchased a new stake in New Gold in the fourth quarter valued at approximately $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in New Gold in the fourth quarter valued at approximately $43,000. Finally, Nwam LLC purchased a new stake in New Gold in the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 42.82% of the company's stock.

New Gold Price Performance

New Gold stock traded up $0.16 during trading hours on Tuesday, hitting $4.57. The stock had a trading volume of 17,121,366 shares, compared to its average volume of 20,205,938. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 35.16 and a beta of 0.38. New Gold Inc. has a 1-year low of $2.04 and a 1-year high of $5.16. The stock's fifty day moving average is $4.66 and its two-hundred day moving average is $3.79.

Wall Street Analyst Weigh In

NGD has been the subject of a number of research reports. Raymond James Financial upgraded New Gold to a "hold" rating and set a $4.00 price objective for the company in a research note on Monday, June 30th. CIBC boosted their target price on New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a report on Tuesday, July 15th. National Bankshares reissued an "outperform" rating on shares of New Gold in a report on Tuesday, June 24th. Wall Street Zen raised New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Scotiabank reissued an "outperform" rating on shares of New Gold in a report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $4.38.

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.