XTX Topco Ltd Grows Stake in New Gold Inc. (NYSE:NGD)

Key Points

• XTX Topco Ltd has significantly increased its stake in New Gold Inc., acquiring an additional 161,806 shares in the 1st quarter, raising its total holdings to 318,240 shares valued at approximately $1.18 million.
• Various institutional investors, including TD Asset Management Inc. and Banque Cantonale Vaudoise, have also modified their holdings in New Gold, reflecting growing institutional interest in the stock, with 42.82% of it owned by institutional investors.
• Research firms have recently raised their price targets for New Gold, with CIBC increasing it from $5.50 to $6.25 and several analysts maintaining an average rating of "Buy."

XTX Topco Ltd grew its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 103.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 318,240 shares of the company's stock after purchasing an additional 161,806 shares during the period. XTX Topco Ltd's holdings in New Gold were worth $1,181,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. LPL Financial LLC lifted its stake in New Gold by 9.3% in the fourth quarter. LPL Financial LLC now owns 143,964 shares of the company's stock worth $357,000 after purchasing an additional 12,292 shares during the last quarter. Wellington Management Group LLP bought a new position in New Gold in the 4th quarter worth $2,830,000. Franklin Resources Inc. boosted its stake in shares of New Gold by 1.3% during the 4th quarter. Franklin Resources Inc. now owns 8,496,204 shares of the company's stock valued at $21,073,000 after purchasing an additional 110,500 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of New Gold by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 391,274 shares of the company's stock valued at $987,000 after purchasing an additional 18,901 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of New Gold by 62.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 96,879 shares of the company's stock worth $240,000 after acquiring an additional 37,135 shares in the last quarter. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

New Gold Trading Up 4.2%

NYSE:NGD traded up $0.19 during mid-day trading on Wednesday, hitting $4.76. 15,777,452 shares of the stock traded hands, compared to its average volume of 20,179,002. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. New Gold Inc. has a 52 week low of $2.04 and a 52 week high of $5.16. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 36.62 and a beta of 0.38. The firm's 50 day moving average is $4.66 and its two-hundred day moving average is $3.79.

Wall Street Analyst Weigh In

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

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.