New Gold Inc. (NYSE:NGD) Holdings Boosted 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 position in New Gold Inc. (NYSE:NGD - Free Report) by 166.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,203,070 shares of the company's stock after purchasing an additional 2,003,070 shares during the quarter. Ruffer LLP owned 0.40% of New Gold worth $11,883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. SIH Partners LLLP acquired a new position in New Gold in the fourth quarter worth about $27,000. Tudor Investment Corp ET AL bought a new position in shares of New Gold in the 4th quarter worth about $27,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of New Gold during the 4th quarter valued at about $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in New Gold during the fourth quarter worth about $43,000. Finally, Nwam LLC acquired a new stake in shares of New Gold during the 1st quarter worth approximately $45,000. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Price Performance

Shares of New Gold stock traded up $0.07 during trading on Friday, hitting $4.88. The stock had a trading volume of 16,117,290 shares, compared to its average volume of 20,100,859. The business has a fifty day moving average of $4.67 and a two-hundred day moving average of $3.81. The firm has a market cap of $3.86 billion, a P/E ratio of 37.54 and a beta of 0.38. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. New Gold Inc. has a fifty-two week low of $2.12 and a fifty-two week high of $5.16.

Wall Street Analyst Weigh In

Several research firms have recently commented on NGD. Scotiabank restated an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. Wall Street Zen upgraded New Gold from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. National Bankshares restated an "outperform" rating on shares of New Gold in a research report on Tuesday, June 24th. Raymond James Financial upgraded New Gold to a "hold" rating and set a $4.00 price target for the company in a research report on Monday, June 30th. Finally, CIBC increased their target price on shares of New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, New Gold has an average rating of "Buy" and an average 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.