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

Walleye Capital LLC grew its position in New Gold Inc. (NYSE:NGD - Free Report) by 87.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 186,765 shares of the company's stock after acquiring an additional 87,270 shares during the quarter. Walleye Capital LLC's holdings in New Gold were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. acquired a new position in shares of New Gold during the fourth quarter worth approximately $87,000. Russell Investments Group Ltd. raised 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 purchasing an additional 349,167 shares in the last quarter. Virtu Financial LLC acquired a new stake in New Gold in the third quarter worth about $941,000. Raymond James Financial Inc. bought a new position in New Gold in the 4th quarter valued at about $1,918,000. Finally, Renaissance Technologies LLC increased its stake in 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 buying an additional 2,619,782 shares during the period. 42.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Bank of America upgraded New Gold from an "underperform" rating to a "buy" rating and upped their price objective for the company from $2.60 to $3.90 in a report on Wednesday, March 26th. Raymond James set a $4.00 price objective on shares of New Gold and gave the company a "market perform" rating in a research report on Friday, April 4th. Scotiabank reissued an "outperform" rating on shares of New Gold in a research note on Monday, April 14th. New Street Research set a $3.90 price target on shares of New Gold in a research report on Wednesday, March 26th. Finally, CIBC cut 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. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $3.85.

New Gold Stock Down 1.9 %

NYSE NGD traded down $0.07 during trading on Tuesday, reaching $3.31. 3,463,953 shares of the company's stock were exchanged, compared to its average volume of 12,014,254. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. New Gold Inc. has a fifty-two week low of $1.73 and a fifty-two week high of $3.86. The company's fifty day simple moving average is $3.23 and its 200-day simple moving average is $2.94. The firm has a market capitalization of $2.62 billion, a PE ratio of 25.43 and a beta of 0.93.

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.