Numerai GP LLC Sells 90,553 Shares of New Gold Inc. (NYSE:NGD)

Numerai GP LLC lessened its position in New Gold Inc. (NYSE:NGD - Free Report) by 71.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,374 shares of the company's stock after selling 90,553 shares during the period. Numerai GP LLC's holdings in New Gold were worth $88,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

NGD has been the subject of several research reports. New Street Research set a $3.90 price objective on shares of New Gold in a report on Wednesday, March 26th. Scotiabank reiterated an "outperform" rating on shares of New Gold in a research note on Monday, April 14th. Raymond James set a $4.00 price target on New Gold and gave the stock a "market perform" rating in a research note on Friday, April 4th. 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 research report on Wednesday, March 26th. Finally, National Bank Financial raised New Gold to a "strong-buy" rating in a report on Friday, March 21st. Two investment 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $4.04.

New Gold Stock Performance

NYSE:NGD traded up $0.21 during mid-day trading on Tuesday, hitting $4.11. 23,935,668 shares of the company traded hands, compared to its average volume of 13,104,852. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. The stock's fifty day moving average price is $3.56 and its 200-day moving average price is $3.05. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 31.62 and a beta of 0.54. New Gold Inc. has a one year low of $1.86 and a one year 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.