The Manufacturers Life Insurance Company Grows Stake in New Gold Inc. (NYSE:NGD)

The Manufacturers Life Insurance Company lifted its stake in New Gold Inc. (NYSE:NGD - Free Report) by 66.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,336,963 shares of the company's stock after acquiring an additional 531,564 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.17% of New Gold worth $3,335,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Tudor Investment Corp ET AL bought a new stake in New Gold during the 4th quarter worth about $27,000. Aquatic Capital Management LLC grew its position in shares of New Gold by 187.8% in the 4th quarter. Aquatic Capital Management LLC now owns 591,640 shares of the company's stock valued at $1,467,000 after purchasing an additional 386,040 shares during the period. Oxford Asset Management LLP acquired a new position in New Gold during the 4th quarter worth approximately $377,000. Dauntless Investment Group LLC acquired a new position in New Gold during the 4th quarter worth approximately $399,000. Finally, SIH Partners LLLP acquired a new position in New Gold during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 42.82% of the company's stock.

New Gold Price Performance

NYSE NGD traded down $0.37 during trading on Monday, reaching $3.81. The company's stock had a trading volume of 27,040,763 shares, compared to its average volume of 12,941,063. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. The stock has a market capitalization of $3.02 billion, a PE ratio of 29.31 and a beta of 0.54. The firm has a fifty day moving average of $3.46 and a 200 day moving average of $3.01. New Gold Inc. has a one year low of $1.74 and a one year high of $4.21.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NGD shares. Bank of America upgraded New Gold from an "underperform" rating to a "buy" rating and increased their price target for the company from $2.60 to $3.90 in a research note on Wednesday, March 26th. National Bankshares reiterated an "outperform" rating on shares of New Gold in a research report on Wednesday, April 2nd. New Street Research set a $3.90 price objective on New Gold in a research note on Wednesday, March 26th. Raymond James set a $4.00 target price on New Gold and gave the stock a "market perform" rating in a report on Friday, April 4th. Finally, Scotiabank reiterated an "outperform" rating on shares of New Gold in a report on Monday, April 14th. Two equities 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $4.04.

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.