New Gold Inc. (NYSE:NGD) Stock Holdings Lowered by Two Sigma Advisers LP

Two Sigma Advisers LP trimmed its stake in shares of New Gold Inc. (NYSE:NGD - Free Report) by 27.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 approximately 0.40% of New Gold worth $7,793,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. DGS Capital Management LLC acquired a new stake in shares of New Gold in the 4th quarter valued at about $30,000. Caprock Group LLC lifted its holdings in New Gold by 118.2% during the 4th quarter. Caprock Group LLC now owns 1,745,627 shares of the company's stock worth $4,329,000 after buying an additional 945,453 shares during the last quarter. JGP Global Gestao de Recursos Ltda. grew its position in shares of New Gold by 27.8% in the 4th quarter. JGP Global Gestao de Recursos Ltda. now owns 6,500,000 shares of the company's stock worth $16,120,000 after acquiring an additional 1,412,003 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of New Gold by 0.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,471,000 shares of the company's stock worth $3,669,000 after acquiring an additional 4,500 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of New Gold by 3.7% in the 4th quarter. CIBC Asset Management Inc now owns 2,183,620 shares of the company's stock valued at $5,441,000 after acquiring an additional 78,074 shares during the last quarter. 42.82% of the stock is currently owned by institutional investors.

New Gold Stock Performance

Shares of NGD stock remained flat at $4.30 during mid-day trading on Tuesday. The stock had a trading volume of 20,641,771 shares, compared to its average volume of 13,238,158. New Gold Inc. has a one year low of $1.90 and a one year high of $4.34. 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 stock's fifty day simple moving average is $3.65 and its 200-day simple moving average is $3.10. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 33.08 and a beta of 0.54.

Analysts Set New Price Targets

Several analysts have weighed in on NGD shares. Bank of America upgraded shares of New Gold from an "underperform" rating to a "buy" rating and boosted their target price for the company from $2.60 to $3.90 in a research note on Wednesday, March 26th. CIBC upped their target price on New Gold from $3.40 to $4.75 and gave the company an "outperformer" rating in a report on Thursday, May 8th. New Street Research set a $3.90 price objective on shares of New Gold in a research report on Wednesday, March 26th. Raymond James set a $4.00 price target on New Gold and gave the stock a "market perform" rating in a research report on Friday, April 4th. Finally, Scotiabank reissued an "outperform" rating on shares of New Gold in a research note on Monday, April 14th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $4.04.

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.