New Gold Inc. (NYSE:NGD) Shares Sold by Mudita Advisors LLP

Mudita Advisors LLP lessened its holdings in shares of New Gold Inc. (NYSE:NGD - Free Report) by 45.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 588,594 shares of the company's stock after selling 500,000 shares during the quarter. New Gold makes up about 0.8% of Mudita Advisors LLP's portfolio, making the stock its 18th biggest holding. Mudita Advisors LLP owned approximately 0.07% of New Gold worth $1,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NGD. Hillsdale Investment Management Inc. boosted its position in shares of New Gold by 97.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company's stock valued at $23,657,000 after acquiring an additional 4,671,399 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of New Gold by 97.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company's stock valued at $14,742,000 after acquiring an additional 2,931,470 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of New Gold by 11.6% during the 4th quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock valued at $62,363,000 after acquiring an additional 2,619,782 shares during the last quarter. Bank of Montreal Can boosted its position in shares of New Gold by 36.9% during the 4th quarter. Bank of Montreal Can now owns 9,703,381 shares of the company's stock valued at $24,203,000 after acquiring an additional 2,613,285 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of New Gold by 46.2% during the 4th quarter. Bank of America Corp DE now owns 7,925,231 shares of the company's stock valued at $19,655,000 after acquiring an additional 2,504,157 shares during the last quarter. Institutional investors and hedge funds own 42.82% of the company's stock.

New Gold Stock Down 2.3%

Shares of NGD stock traded down $0.09 during trading hours on Friday, reaching $3.77. 30,248,313 shares of the stock were exchanged, compared to its average volume of 13,043,659. The business's fifty day moving average is $3.54 and its two-hundred day moving average is $3.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. New Gold Inc. has a 12-month low of $1.86 and a 12-month high of $4.21. The firm has a market capitalization of $2.98 billion, a P/E ratio of 29.00 and a beta of 0.54.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NGD. New Street Research set a $3.90 price target on shares of New Gold in a research report on Wednesday, March 26th. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a research report on Wednesday, April 2nd. Scotiabank reaffirmed an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. StockNews.com raised shares of New Gold from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, National Bank Financial raised shares of New Gold to a "strong-buy" rating in a research report on Friday, March 21st. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $4.04.

About New Gold

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.