Gotham Asset Management LLC Grows Stock Position in New Gold Inc. (NYSE:NGD)

Gotham Asset Management LLC grew its stake in shares of New Gold Inc. (NYSE:NGD - Free Report) by 102.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,490,211 shares of the company's stock after acquiring an additional 753,220 shares during the quarter. Gotham Asset Management LLC owned about 0.19% of New Gold worth $3,696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NGD. DGS Capital Management LLC purchased a new position in shares of New Gold in the fourth quarter worth $30,000. Caprock Group LLC raised its stake in New Gold by 118.2% in the 4th quarter. Caprock Group LLC now owns 1,745,627 shares of the company's stock worth $4,329,000 after acquiring an additional 945,453 shares during the last quarter. JGP Global Gestao de Recursos Ltda. grew its stake in New Gold by 27.8% during the 4th quarter. JGP Global Gestao de Recursos Ltda. now owns 6,500,000 shares of the company's stock valued at $16,120,000 after purchasing an additional 1,412,003 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of New Gold by 0.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,471,000 shares of the company's stock valued at $3,669,000 after purchasing an additional 4,500 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of New Gold by 3.7% in the fourth quarter. CIBC Asset Management Inc now owns 2,183,620 shares of the company's stock valued at $5,441,000 after purchasing an additional 78,074 shares during the period. 42.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NGD shares. National Bankshares reiterated an "outperform" rating on shares of New Gold in a report on Wednesday, April 2nd. New Street Research set a $3.90 target price on shares of New Gold in a research report on Wednesday, March 26th. Scotiabank reaffirmed an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. CIBC boosted their price objective on New Gold from $3.40 to $4.75 and gave the company an "outperformer" rating in a report on Thursday, May 8th. Finally, StockNews.com raised New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $4.04.

New Gold Price Performance

Shares of NGD stock traded up $0.15 during trading hours on Tuesday, hitting $4.05. 10,732,472 shares of the company's stock were exchanged, compared to its average volume of 13,056,684. The firm has a 50 day moving average of $3.56 and a two-hundred day moving average of $3.05. New Gold Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $4.21. The firm has a market cap of $3.20 billion, a P/E ratio of 31.12 and a beta of 0.54. 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 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.