Wellington Management Group LLP Purchases Shares of 1,133,660 New Gold Inc. (NYSE:NGD)

Wellington Management Group LLP purchased a new stake in shares of New Gold Inc. (NYSE:NGD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,133,660 shares of the company's stock, valued at approximately $2,830,000. Wellington Management Group LLP owned 0.14% of New Gold as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NGD. Atria Wealth Solutions Inc. bought a new stake in shares of New Gold during the fourth quarter worth approximately $87,000. Russell Investments Group Ltd. grew its holdings in New Gold by 213.8% during the 4th quarter. Russell Investments Group Ltd. now owns 512,510 shares of the company's stock worth $1,273,000 after acquiring an additional 349,167 shares during the period. Raymond James Financial Inc. bought a new stake in shares of New Gold during the 4th quarter valued at $1,918,000. Renaissance Technologies LLC lifted its stake in shares of New Gold by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock valued at $62,363,000 after purchasing an additional 2,619,782 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of New Gold by 97.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company's stock valued at $14,742,000 after purchasing an additional 2,931,470 shares during the period. Institutional investors and hedge funds own 42.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NGD shares. Raymond James set a $4.00 price objective on New Gold and gave the company a "market perform" rating in a report on Friday, April 4th. Scotiabank restated an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. New Street Research set a $3.90 price target on shares of New Gold in a research report on Wednesday, March 26th. Wall Street Zen raised shares of New Gold from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, CIBC upped their target price on shares of New Gold from $3.40 to $4.75 and gave the company an "outperformer" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, New Gold has an average rating of "Buy" and an average target price of $4.13.

New Gold Stock Down 2.0%

Shares of NYSE NGD traded down $0.10 during mid-day trading on Friday, reaching $4.80. 32,903,353 shares of the company's stock were exchanged, compared to its average volume of 13,817,383. New Gold Inc. has a twelve month low of $1.90 and a twelve month high of $4.97. 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 firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 36.93 and a beta of 0.44. The business has a fifty day simple moving average of $3.85 and a 200 day simple moving average of $3.22.

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.