Nokomis Capital L.L.C. Buys 2,782,296 Shares of New Gold Inc. (NYSE:NGD)

Nokomis Capital L.L.C. grew its stake in shares of New Gold Inc. (NYSE:NGD - Free Report) by 203.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,147,296 shares of the company's stock after purchasing an additional 2,782,296 shares during the quarter. New Gold makes up approximately 3.7% of Nokomis Capital L.L.C.'s investment portfolio, making the stock its 8th largest position. Nokomis Capital L.L.C. owned approximately 0.52% of New Gold worth $10,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. SIH Partners LLLP purchased a new stake in shares of New Gold during the fourth quarter valued at $27,000. Tudor Investment Corp ET AL purchased a new stake in shares of New Gold during the fourth quarter valued at $27,000. DGS Capital Management LLC purchased a new stake in New Gold in the fourth quarter worth about $30,000. Samalin Investment Counsel LLC purchased a new stake in New Gold in the fourth quarter worth about $32,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in New Gold in the fourth quarter worth about $39,000. 42.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NGD shares. Scotiabank reaffirmed an "outperform" rating on shares of New Gold in a research note on Monday, April 14th. Raymond James set a $4.00 price objective 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 price objective on shares of New Gold in a research note on Wednesday, March 26th. Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and upped their price objective for the stock from $2.60 to $3.90 in a research note on Wednesday, March 26th. Finally, StockNews.com raised shares of New Gold from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $4.04.

New Gold Stock Down 2.3%

New Gold stock traded down $0.09 during trading hours on Friday, reaching $3.77. The stock had a trading volume of 30,248,313 shares, compared to its average volume of 13,077,783. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 29.00 and a beta of 0.54. 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 business's 50 day moving average price is $3.54 and its 200-day moving average price is $3.03. New Gold Inc. has a 52 week low of $1.86 and a 52 week high of $4.21.

About New Gold

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.