New Gold Inc. (NYSE:NGD) Stake Lowered by XTX Topco Ltd

XTX Topco Ltd lowered its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 68.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,434 shares of the company's stock after selling 332,525 shares during the period. XTX Topco Ltd's holdings in New Gold were worth $388,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Mariner LLC increased its position in shares of New Gold by 705.8% in the fourth quarter. Mariner LLC now owns 132,498 shares of the company's stock worth $329,000 after acquiring an additional 116,054 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of New Gold in the fourth quarter worth $1,918,000. Bank of Nova Scotia acquired a new stake in New Gold during the 4th quarter valued at $68,000. Renaissance Technologies LLC grew its holdings 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 purchasing an additional 2,619,782 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in New Gold by 3.6% during the 4th quarter. Invesco Ltd. now owns 13,481,005 shares of the company's stock valued at $33,433,000 after purchasing an additional 469,748 shares in the last quarter. Institutional investors and hedge funds own 42.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NGD. Scotiabank reaffirmed an "outperform" rating on shares of New Gold in a report on Monday, April 14th. CIBC lowered their price target on shares of New Gold from $3.60 to $3.40 and set an "outperform" rating for the company in a report on Thursday, February 27th. New Street Research set a $3.90 price target on shares of New Gold in a report on Wednesday, March 26th. Raymond James set a $4.00 price target on shares of New Gold and gave the company a "market perform" rating in a report on Friday, April 4th. Finally, National Bank Financial raised shares of New Gold to a "strong-buy" rating in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $3.85.

New Gold Stock Down 0.6 %

NYSE NGD traded down $0.02 on Monday, hitting $3.37. 20,110,183 shares of the stock traded hands, compared to its average volume of 12,046,486. The stock has a 50-day moving average of $3.23 and a 200 day moving average of $2.94. New Gold Inc. has a twelve month low of $1.73 and a twelve month high of $3.86. The company has a market capitalization of $2.67 billion, a P/E ratio of 25.93 and a beta of 0.93. 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 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.