Triasima Portfolio Management inc. Sells 192,745 Shares of New Gold Inc. (NYSE:NGD)

Triasima Portfolio Management inc. lessened its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 31.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 423,772 shares of the company's stock after selling 192,745 shares during the period. Triasima Portfolio Management inc. owned approximately 0.05% of New Gold worth $1,566,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Oxbow Advisors LLC grew its holdings in New Gold by 1.9% during the first quarter. Oxbow Advisors LLC now owns 282,400 shares of the company's stock valued at $1,048,000 after purchasing an additional 5,400 shares during the period. Pekin Hardy Strauss Inc. raised its position in shares of New Gold by 10.2% in the first quarter. Pekin Hardy Strauss Inc. now owns 541,750 shares of the company's stock worth $2,010,000 after buying an additional 50,000 shares in the last quarter. Financial Counselors Inc. purchased a new stake in shares of New Gold in the first quarter worth $289,000. Riggs Asset Managment Co. Inc. bought a new position in New Gold in the first quarter valued at $1,141,000. Finally, Bank of New York Mellon Corp raised its position in New Gold by 40.6% during the first quarter. Bank of New York Mellon Corp now owns 70,728 shares of the company's stock valued at $262,000 after purchasing an additional 20,436 shares in the last quarter. Hedge funds and other institutional investors own 42.82% of the company's stock.

New Gold Stock Performance

NGD traded up $0.01 during mid-day trading on Friday, reaching $4.35. 7,580,447 shares of the company traded hands, compared to its average volume of 15,258,085. The stock has a market capitalization of $3.45 billion, a P/E ratio of 33.59 and a beta of 0.45. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. The company's fifty day moving average price is $4.57 and its 200-day moving average price is $3.63. New Gold Inc. has a 52-week low of $1.94 and a 52-week high of $5.16.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Raymond James Financial upgraded New Gold to a "hold" rating and set a $4.00 price target on the stock in a research report on Monday, June 30th. New Street Research set a $3.90 target price on New Gold in a research note on Wednesday, March 26th. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a research report on Tuesday, June 24th. CIBC boosted their price target on New Gold from $5.50 to $6.25 and gave the stock an "outperformer" rating in a research report on Tuesday. Finally, Scotiabank reissued an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, New Gold currently has a consensus rating of "Buy" and an average target price 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.