Deutsche Bank AG Acquires 175,459 Shares of New Gold Inc. (NYSE:NGD)

Deutsche Bank AG increased its stake in New Gold Inc. (NYSE:NGD - Free Report) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,425,421 shares of the company's stock after purchasing an additional 175,459 shares during the period. Deutsche Bank AG owned 0.43% of New Gold worth $8,495,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Atria Wealth Solutions Inc. acquired a new stake in shares of New Gold in the 4th quarter valued at $87,000. Russell Investments Group Ltd. boosted its holdings in New Gold by 213.8% in the fourth quarter. Russell Investments Group Ltd. now owns 512,510 shares of the company's stock valued at $1,273,000 after acquiring an additional 349,167 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in New Gold in the fourth quarter worth about $1,918,000. Renaissance Technologies LLC increased its position in New Gold by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock worth $62,363,000 after purchasing an additional 2,619,782 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in New Gold by 97.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company's stock worth $14,742,000 after purchasing an additional 2,931,470 shares during the last quarter. Institutional investors and hedge funds own 42.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and raised their target price for the company from $2.60 to $3.90 in a research note on Wednesday, March 26th. CIBC increased their price objective on shares of New Gold from $3.40 to $4.75 and gave the company an "outperformer" rating in a report on Thursday, May 8th. Raymond James set a $4.00 target price on shares of New Gold and gave the stock a "market perform" rating in a report on Friday, April 4th. National Bankshares reiterated an "outperform" rating on shares of New Gold in a research report on Wednesday, April 2nd. Finally, National Bank Financial upgraded New Gold to a "strong-buy" rating in a research report on Friday, March 21st. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $4.04.

New Gold Stock Down 1.3%

Shares of NGD stock traded down $0.06 on Thursday, hitting $4.20. 4,931,088 shares of the stock were exchanged, compared to its average volume of 13,102,701. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $3.32 billion, a P/E ratio of 32.27 and a beta of 0.54. New Gold Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $4.31. The business has a 50-day moving average of $3.59 and a 200 day moving average of $3.06.

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.