Wexford Capital LP Invests $310,000 in New Gold Inc. (NYSE:NGD)

Wexford Capital LP bought a new position in shares of New Gold Inc. (NYSE:NGD - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 125,000 shares of the company's stock, valued at approximately $310,000.

A number of other institutional investors have also modified their holdings of NGD. SIH Partners LLLP purchased a new stake in shares of New Gold during the 4th quarter worth about $27,000. Tudor Investment Corp ET AL purchased a new position in New Gold in the 4th quarter worth approximately $27,000. DGS Capital Management LLC purchased a new position in New Gold in the 4th quarter worth approximately $30,000. Samalin Investment Counsel LLC purchased a new position in New Gold in the 4th quarter worth approximately $32,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in New Gold in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 42.82% of the company's stock.

New Gold Trading Up 3.4%

Shares of NGD stock opened at $3.90 on Tuesday. The stock has a 50-day simple moving average of $3.56 and a 200 day simple moving average of $3.05. New Gold Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $4.21. The stock has a market capitalization of $3.09 billion, a P/E ratio of 30.00 and a beta of 0.54. 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 analysts have weighed in on the company. StockNews.com upgraded New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. National Bank Financial raised New Gold to a "strong-buy" rating in a research report on Friday, March 21st. Raymond James set a $4.00 price target on New Gold and gave the company a "market perform" rating in a research report on Friday, April 4th. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a research report on Wednesday, April 2nd. Finally, New Street Research set a $3.90 target price on New Gold in a research report on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $4.04.

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.

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