Wellington Management Group LLP Takes Position in 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 fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,133,660 shares of the company's stock, valued at approximately $2,830,000. Wellington Management Group LLP owned approximately 0.14% of New Gold as of its most recent SEC filing.

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

New Gold Stock Performance

NGD stock traded down $0.10 during midday trading on Friday, reaching $4.80. The company had a trading volume of 32,903,333 shares, compared to its average volume of 13,778,608. The firm has a market capitalization of $3.80 billion, a PE ratio of 36.93 and a beta of 0.44. The stock has a 50 day moving average price of $3.83 and a 200 day moving average price of $3.20. New Gold Inc. has a fifty-two week low of $1.90 and a fifty-two week high of $4.98. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

Analysts Set New Price Targets

NGD has been the topic of several recent analyst reports. Raymond James set a $4.00 price target on New Gold and gave the stock a "market perform" rating in a research note on Friday, April 4th. National Bankshares reiterated an "outperform" rating on shares of New Gold in a research note on Wednesday, April 2nd. CIBC raised their price target on shares of New Gold from $3.40 to $4.75 and gave the stock an "outperformer" rating in a research report on Thursday, May 8th. Bank of America upgraded shares of New Gold from an "underperform" rating to a "buy" rating and lifted their price target for the stock from $2.60 to $3.90 in a research note on Wednesday, March 26th. Finally, Scotiabank reiterated an "outperform" rating on shares of New Gold in a research note on Monday, April 14th. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, New Gold currently has an average rating of "Buy" and an average 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.