New Gold Inc. (NYSE:NGD) Stock Position Raised by Aquatic Capital Management LLC

Aquatic Capital Management LLC boosted its position in New Gold Inc. (NYSE:NGD - Free Report) by 187.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 591,640 shares of the company's stock after buying an additional 386,040 shares during the period. Aquatic Capital Management LLC owned approximately 0.07% of New Gold worth $1,467,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Atria Wealth Solutions Inc. acquired a new stake in shares of New Gold during the 4th quarter valued at approximately $87,000. Russell Investments Group Ltd. lifted its stake in shares of New Gold by 213.8% during the fourth quarter. Russell Investments Group Ltd. now owns 512,510 shares of the company's stock valued at $1,273,000 after buying an additional 349,167 shares during the period. Virtu Financial LLC acquired a new stake in shares of New Gold during the third quarter worth $941,000. Raymond James Financial Inc. purchased a new stake in New Gold in the 4th quarter valued at about $1,918,000. Finally, Renaissance Technologies LLC grew its holdings in New Gold by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock valued at $62,363,000 after purchasing an additional 2,619,782 shares during the period. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Stock Up 2.0 %

NYSE:NGD traded up $0.08 during mid-day trading on Monday, reaching $3.92. The stock had a trading volume of 11,984,110 shares, compared to its average volume of 18,931,043. 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 company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 30.13 and a beta of 0.93. New Gold Inc. has a 1-year low of $1.74 and a 1-year high of $3.98. The stock's 50 day simple moving average is $3.31 and its two-hundred day simple moving average is $2.96.

Analyst Ratings Changes

Several equities research analysts have commented on NGD shares. Bank of America upgraded New Gold from an "underperform" rating to a "buy" rating and upped their price target for the stock from $2.60 to $3.90 in a research note on Wednesday, March 26th. Raymond James set a $4.00 price target on shares of New Gold and gave the stock a "market perform" rating in a research note on Friday, April 4th. New Street Research set a $3.90 target price on New Gold in a research note on Wednesday, March 26th. National Bank Financial upgraded New Gold to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Scotiabank reissued an "outperform" rating on shares of New Gold in a report on Monday, April 14th. Three 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. According to MarketBeat, New Gold presently has a consensus rating of "Moderate Buy" and an average target price of $3.85.

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.