Virtu Financial LLC Increases Position in New Gold Inc. (NYSE:NGD)

Key Points

• Virtu Financial LLC increased its investment in New Gold Inc. by 253.1% in the first quarter, owning 373,088 shares worth approximately $1,384,000.
• Several analysts upgraded New Gold's rating, with Wall Street Zen moving it from a "hold" to a "buy," contributing to a consensus rating of "Buy" with a target price of $4.38.
• New Gold Inc. has a current market capitalization of $3.86 billion, with shares recently trading at $4.88 and a 52-week range between $2.12 and $5.16.

Virtu Financial LLC raised its holdings in shares of New Gold Inc. (NYSE:NGD - Free Report) by 253.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 373,088 shares of the company's stock after buying an additional 267,428 shares during the period. Virtu Financial LLC's holdings in New Gold were worth $1,384,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SIH Partners LLLP purchased a new position in shares of New Gold during the fourth quarter valued at approximately $27,000. Tudor Investment Corp ET AL purchased a new position in shares of New Gold during the fourth quarter valued at approximately $27,000. Cary Street Partners Financial LLC purchased a new position in shares of New Gold during the first quarter valued at approximately $37,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of New Gold during 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 fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 42.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NGD shares. Wall Street Zen upgraded New Gold from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. National Bankshares reiterated an "outperform" rating on shares of New Gold in a report on Tuesday, June 24th. CIBC boosted their price target on New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a report on Tuesday, July 15th. Scotiabank reiterated an "outperform" rating on shares of New Gold in a report on Monday, April 14th. Finally, Raymond James Financial upgraded New Gold to a "hold" rating and set a $4.00 price target for the company in a report on Monday, June 30th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, New Gold presently has a consensus rating of "Buy" and a consensus target price of $4.38.

New Gold Stock Performance

Shares of NYSE:NGD opened at $4.88 on Monday. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 37.54 and a beta of 0.38. New Gold Inc. has a 52 week low of $2.12 and a 52 week high of $5.16. 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 of $4.68 and a 200 day moving average of $3.84.

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.

Want to see what other hedge funds are holding NGD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Gold Inc. (NYSE:NGD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.