Two Sigma Investments LP Sells 2,327,825 Shares of New Gold Inc. (NYSE:NGD)

Two Sigma Investments LP lessened its position in shares of New Gold Inc. (NYSE:NGD - Free Report) by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,314,981 shares of the company's stock after selling 2,327,825 shares during the quarter. Two Sigma Investments LP owned 1.05% of New Gold worth $20,621,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Hillsdale Investment Management Inc. lifted its position in New Gold by 97.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company's stock valued at $23,657,000 after purchasing an additional 4,671,399 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of New Gold by 97.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company's stock worth $14,742,000 after buying an additional 2,931,470 shares during the period. Nokomis Capital L.L.C. lifted its position in shares of New Gold by 203.8% during the 4th quarter. Nokomis Capital L.L.C. now owns 4,147,296 shares of the company's stock valued at $10,285,000 after buying an additional 2,782,296 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of New Gold by 11.6% during the 4th quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock valued at $62,363,000 after buying an additional 2,619,782 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of New Gold by 36.9% during the 4th quarter. Bank of Montreal Can now owns 9,703,381 shares of the company's stock valued at $24,203,000 after acquiring an additional 2,613,285 shares during the period. Institutional investors own 42.82% of the company's stock.

New Gold Price Performance

Shares of NGD stock traded down $0.03 during trading hours on Tuesday, hitting $4.28. The stock had a trading volume of 7,675,781 shares, compared to its average volume of 13,184,384. New Gold Inc. has a one year low of $1.90 and a one year high of $4.34. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. The stock's 50-day moving average price is $3.65 and its two-hundred day moving average price is $3.10. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 32.81 and a beta of 0.54.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NGD shares. Raymond James set a $4.00 price target on shares of New Gold and gave the company a "market perform" rating in a report on Friday, April 4th. New Street Research set a $3.90 target price on shares of New Gold in a research note on Wednesday, March 26th. National Bankshares reiterated an "outperform" rating on shares of New Gold in a research note on Wednesday, April 2nd. Wall Street Zen raised New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, CIBC upped their price objective on New Gold from $3.40 to $4.75 and gave the stock an "outperformer" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, New Gold has a consensus rating of "Buy" and an average price target 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.