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

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

Other large investors also recently modified their holdings of the company. SIH Partners LLLP acquired a new position in shares of New Gold during the 4th quarter worth about $27,000. Tudor Investment Corp ET AL acquired a new position in shares of New Gold during the 4th quarter worth about $27,000. Samalin Investment Counsel LLC acquired a new position in shares of New Gold during the 4th quarter worth about $32,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of New Gold in the 4th quarter valued at about $39,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of New Gold in the 4th quarter valued at about $43,000. 42.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NGD. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a report on Tuesday, June 24th. Scotiabank reaffirmed an "outperform" rating on shares of New Gold in a report on Monday, April 14th. CIBC upped their target price on shares of New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a report on Tuesday. Raymond James Financial raised shares of New Gold to a "hold" rating and set a $4.00 target price on the stock in a report on Monday, June 30th. Finally, New Street Research set a $3.90 target price on shares of New Gold in a report on Wednesday, March 26th. One equities research 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $4.38.

New Gold Stock Performance

New Gold stock traded down $0.04 during trading hours on Friday, hitting $4.30. The company had a trading volume of 11,835,856 shares, compared to its average volume of 15,325,666. New Gold Inc. has a one year low of $1.94 and a one year high of $5.16. The firm has a 50-day moving average of $4.58 and a 200 day moving average of $3.64. The firm has a market cap of $3.40 billion, a PE ratio of 33.08 and a beta of 0.45. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84.

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.