Headlands Technologies LLC decreased its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 93.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,144 shares of the company's stock after selling 301,403 shares during the quarter. Headlands Technologies LLC's holdings in New Gold were worth $52,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. DGS Capital Management LLC purchased a new stake in New Gold during the fourth quarter valued at about $30,000. Samalin Investment Counsel LLC purchased a new stake in shares of New Gold in the 4th quarter valued at approximately $32,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in New Gold in the 4th quarter worth approximately $74,000. Atria Wealth Solutions Inc. purchased a new position in New Gold during the 4th quarter worth approximately $87,000. Finally, Daiwa Securities Group Inc. acquired a new stake in New Gold during the 4th quarter valued at $103,000. Institutional investors own 42.82% of the company's stock.
New Gold Stock Performance
New Gold stock traded up $0.17 during mid-day trading on Friday, reaching $3.57. The company had a trading volume of 21,383,355 shares, compared to its average volume of 11,304,237. The company has a 50 day moving average of $3.11 and a 200-day moving average of $2.89. New Gold Inc. has a 52 week low of $1.66 and a 52 week high of $3.78. 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 market cap of $2.83 billion, a price-to-earnings ratio of 27.46 and a beta of 0.93.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on NGD. Bank of America raised New Gold from an "underperform" rating to a "buy" rating and raised their target price for the stock from $2.60 to $3.90 in a research report on Wednesday, March 26th. National Bankshares reissued an "outperform" rating on shares of New Gold in a research note on Wednesday, April 2nd. New Street Research set a $3.90 price target on shares of New Gold in a research note on Wednesday, March 26th. CIBC reduced their price objective on New Gold from $3.60 to $3.40 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Finally, National Bank Financial raised New Gold to a "strong-buy" rating in a research report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, New Gold has a consensus rating of "Buy" and an average price target of $3.78.
Read Our Latest Stock Analysis on New Gold
New Gold Company Profile
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Free Report)
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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