New Gold Inc. (NYSE:NGD) Shares Sold by U S Global Investors Inc.

U S Global Investors Inc. decreased its position in New Gold Inc. (NYSE:NGD - Free Report) by 31.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,522,531 shares of the company's stock after selling 703,713 shares during the period. New Gold comprises approximately 0.7% of U S Global Investors Inc.'s portfolio, making the stock its 28th biggest holding. U S Global Investors Inc. owned 0.19% of New Gold worth $5,649,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. SIH Partners LLLP purchased a new stake in shares of New Gold in the 4th quarter worth about $27,000. Tudor Investment Corp ET AL acquired a new position in New Gold during the fourth quarter worth about $27,000. Samalin Investment Counsel LLC purchased a new stake in shares of New Gold in the fourth quarter valued at about $32,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of New Gold in the fourth quarter valued at approximately $39,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of New Gold during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 42.82% of the company's stock.

New Gold Trading Down 3.7%

Shares of NYSE:NGD traded down $0.18 during midday trading on Friday, reaching $4.75. The company's stock had a trading volume of 26,668,479 shares, compared to its average volume of 14,845,296. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 36.54 and a beta of 0.44. The business has a 50 day moving average price of $4.29 and a 200 day moving average price of $3.42. New Gold Inc. has a 1 year low of $1.92 and a 1 year high of $5.06. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NGD shares. Wall Street Zen raised New Gold from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. New Street Research set a $3.90 price objective on New Gold in a research report on Wednesday, March 26th. National Bank Financial raised New Gold to a "strong-buy" rating in a research note on Friday, March 21st. CIBC lifted their price objective on New Gold from $3.40 to $4.75 and gave the stock an "outperformer" rating in a research report on Thursday, May 8th. Finally, Scotiabank restated 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, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $4.13.

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.