Two Sigma Advisers LP decreased its stake in shares of New Gold Inc. (NYSE:NGD - Free Report) by 27.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,142,530 shares of the company's stock after selling 1,180,400 shares during the quarter. Two Sigma Advisers LP owned about 0.40% of New Gold worth $7,793,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. SIH Partners LLLP bought a new position in shares of New Gold in the fourth quarter valued at $27,000. Tudor Investment Corp ET AL acquired a new stake in New Gold in the fourth quarter valued at $27,000. DGS Capital Management LLC bought a new position in shares of New Gold in the 4th quarter valued at about $30,000. Samalin Investment Counsel LLC bought a new position in shares of New Gold in the 4th quarter valued at about $32,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of New Gold during the 4th quarter worth about $39,000. Institutional investors own 42.82% of the company's stock.
New Gold Stock Performance
NGD stock traded up $0.08 during trading hours on Wednesday, hitting $4.38. 19,060,808 shares of the stock were exchanged, compared to its average volume of 13,261,816. New Gold Inc. has a 12 month low of $1.90 and a 12 month high of $4.40. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $3.47 billion, a P/E ratio of 33.69 and a beta of 0.54. The company has a 50-day simple moving average of $3.67 and a two-hundred day simple moving average of $3.11.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a research note on Friday, March 21st. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a research report on Wednesday, April 2nd. Wall Street Zen upgraded New Gold from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Raymond James set a $4.00 price target on New Gold and gave the company a "market perform" rating in a research note on Friday, April 4th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of New Gold in a report on Monday, April 14th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, New Gold has an average rating of "Buy" and an average target price of $4.04.
Get Our Latest Analysis on New Gold
About New Gold
(
Free Report)
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.
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