New Gold Inc. (NYSEAMERICAN:NGD) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp raised its stake in New Gold Inc. (NYSEAMERICAN:NGD - Free Report) by 346.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,635,055 shares of the basic materials company's stock after buying an additional 7,477,711 shares during the quarter. Mackenzie Financial Corp owned approximately 1.40% of New Gold worth $13,968,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of New Gold by 47.4% during the 1st quarter. Bank of New York Mellon Corp now owns 43,611 shares of the basic materials company's stock valued at $78,000 after buying an additional 14,033 shares during the period. Citigroup Inc. raised its position in New Gold by 127.1% in the first quarter. Citigroup Inc. now owns 22,707 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 12,707 shares during the period. BlackRock Inc. raised its position in New Gold by 21.6% in the first quarter. BlackRock Inc. now owns 135,863 shares of the basic materials company's stock valued at $245,000 after purchasing an additional 24,155 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of New Gold by 11.3% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,053,210 shares of the basic materials company's stock valued at $1,912,000 after purchasing an additional 106,563 shares during the last quarter. Finally, Cibc World Market Inc. grew its holdings in shares of New Gold by 47.4% during the 1st quarter. Cibc World Market Inc. now owns 498,214 shares of the basic materials company's stock worth $897,000 after purchasing an additional 160,141 shares during the period. Hedge funds and other institutional investors own 42.82% of the company's stock.

New Gold Stock Performance

Shares of New Gold stock remained flat at $1.75 during trading hours on Friday. 5,406,822 shares of the stock traded hands, compared to its average volume of 6,221,854. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.54. The firm has a market cap of $1.21 billion, a PE ratio of -19.44, a price-to-earnings-growth ratio of 0.92 and a beta of 1.54. New Gold Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $1.94.

New Gold (NYSEAMERICAN:NGD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). New Gold had a negative net margin of 8.20% and a positive return on equity of 5.63%. The company had revenue of $199.20 million during the quarter. On average, analysts forecast that New Gold Inc. will post 0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NGD. StockNews.com downgraded shares of New Gold from a "buy" rating to a "hold" rating in a research note on Sunday, January 14th. Scotiabank boosted their target price on New Gold from $1.65 to $2.00 and gave the stock a "sector perform" rating in a research note on Monday, April 8th. Finally, National Bank Financial reiterated a "sector perform spec overwgt" rating on shares of New Gold in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $1.64.

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.