Vident Advisory LLC Has $495,000 Holdings in New Gold Inc. $NGD

Key Points

• Vident Advisory LLC reduced its holdings in New Gold Inc. by 54.3%, selling 158,840 shares and bringing their total ownership down to 133,512 shares worth approximately $495,000.
• Institutional ownership in New Gold stands at 42.82%, with other investors like HSBC Holdings PLC and Oxbow Advisors LLC increasing their stakes during the same period.
• New Gold's current stock price is $6.30, showing a one-year trading range between $2.33 and $6.34, while analysts maintain an average rating of "Buy" with a consensus target price of $4.38.

Vident Advisory LLC trimmed its stake in New Gold Inc. (NYSE:NGD - Free Report) by 54.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 133,512 shares of the company's stock after selling 158,840 shares during the period. Vident Advisory LLC's holdings in New Gold were worth $495,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Invesco Ltd. raised its stake in shares of New Gold by 16.9% in the 1st quarter. Invesco Ltd. now owns 15,761,737 shares of the company's stock valued at $58,476,000 after acquiring an additional 2,280,732 shares in the last quarter. American Century Companies Inc. raised its stake in shares of New Gold by 23.7% in the 1st quarter. American Century Companies Inc. now owns 15,149,653 shares of the company's stock valued at $56,033,000 after acquiring an additional 2,898,895 shares in the last quarter. JGP Global Gestao de Recursos Ltda. raised its stake in shares of New Gold by 64.4% in the 1st quarter. JGP Global Gestao de Recursos Ltda. now owns 10,687,997 shares of the company's stock valued at $39,652,000 after acquiring an additional 4,187,997 shares in the last quarter. Bank of America Corp DE raised its stake in shares of New Gold by 46.2% in the 4th quarter. Bank of America Corp DE now owns 7,925,231 shares of the company's stock valued at $19,655,000 after acquiring an additional 2,504,157 shares in the last quarter. Finally, Pale Fire Capital SE bought a new position in shares of New Gold in the 1st quarter valued at approximately $23,920,000. 42.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. National Bankshares reissued an "outperform" rating on shares of New Gold in a research note on Tuesday. CIBC raised their price objective on New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. Finally, Raymond James Financial raised New Gold to a "hold" rating and set a $4.00 price target on the stock in a research report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $4.56.

New Gold Stock Performance

NYSE NGD traded down $0.01 during trading on Friday, hitting $6.52. The company's stock had a trading volume of 11,331,498 shares, compared to its average volume of 19,196,229. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average price of $5.13 and a 200 day moving average price of $4.31. The firm has a market cap of $5.16 billion, a P/E ratio of 50.16 and a beta of 0.43. New Gold Inc. has a 52 week low of $2.43 and a 52 week high of $6.63.

New Gold 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.