New Gold Inc. (NYSE:NGD) Shares Sold by Numerai GP LLC

Numerai GP LLC trimmed 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 filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. lifted its position in New Gold by 97.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company's stock valued at $23,657,000 after purchasing an additional 4,671,399 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of New Gold by 97.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company's stock valued at $14,742,000 after buying an additional 2,931,470 shares during the period. Renaissance Technologies LLC boosted its stake in shares of 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 buying an additional 2,619,782 shares during the last quarter. Bank of Montreal Can grew its holdings in New Gold by 36.9% during the fourth quarter. Bank of Montreal Can now owns 9,703,381 shares of the company's stock worth $24,203,000 after acquiring an additional 2,613,285 shares during the period. Finally, Bank of America Corp DE grew its holdings in New Gold by 46.2% during the fourth quarter. Bank of America Corp DE now owns 7,925,231 shares of the company's stock worth $19,655,000 after acquiring an additional 2,504,157 shares during the period. Hedge funds and other institutional investors own 42.82% of the company's stock.

New Gold Price Performance

New Gold stock traded down $0.03 during trading on Thursday, reaching $4.23. The company had a trading volume of 8,183,290 shares, compared to its average volume of 13,112,381. The firm has a market capitalization of $3.34 billion, a PE ratio of 32.50 and a beta of 0.54. The firm's 50-day simple moving average is $3.59 and its 200 day simple moving average is $3.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. New Gold Inc. has a 1-year low of $1.86 and a 1-year high of $4.31.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NGD. Bank of America raised New Gold from an "underperform" rating to a "buy" rating and boosted their price target for the company from $2.60 to $3.90 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. National Bank Financial raised shares of New Gold to a "strong-buy" rating in a report on Friday, March 21st. Raymond James set a $4.00 price target on shares of New Gold and gave the company a "market perform" rating in a research report on Friday, April 4th. Finally, CIBC lifted 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. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, New Gold presently has a consensus rating of "Buy" and a consensus target price of $4.04.

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.