Van ECK Associates Corp Raises Holdings in New Gold Inc. (NYSEAMERICAN:NGD)

Van ECK Associates Corp boosted its stake in shares of New Gold Inc. (NYSEAMERICAN:NGD - Free Report) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,886,569 shares of the basic materials company's stock after buying an additional 1,775,882 shares during the quarter. Van ECK Associates Corp owned approximately 9.74% of New Gold worth $97,655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HC Advisors LLC lifted its holdings in New Gold by 13.4% during the 4th quarter. HC Advisors LLC now owns 214,559 shares of the basic materials company's stock worth $313,000 after buying an additional 25,300 shares during the period. American Century Companies Inc. raised its position in shares of New Gold by 1.0% in the 3rd quarter. American Century Companies Inc. now owns 5,095,417 shares of the basic materials company's stock worth $4,669,000 after acquiring an additional 48,886 shares in the last quarter. Ingalls & Snyder LLC raised its position in shares of New Gold by 116.6% in the 4th quarter. Ingalls & Snyder LLC now owns 123,842 shares of the basic materials company's stock worth $181,000 after acquiring an additional 66,667 shares in the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of New Gold in the 3rd quarter worth about $61,000. Finally, Independent Family Office LLC bought a new position in shares of New Gold in the 4th quarter worth about $123,000. 42.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. National Bank Financial reaffirmed a "sector perform spec overwgt" rating on shares of New Gold in a research report on Monday, April 8th. StockNews.com lowered New Gold from a "buy" rating to a "hold" rating in a research report on Sunday, January 14th. Finally, Scotiabank boosted their target price on New Gold from $1.65 to $2.00 and gave the company a "sector perform" rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, New Gold currently has an average rating of "Hold" and an average price target of $1.64.

New Gold Trading Down 4.9 %

NGD stock traded down $0.09 during midday trading on Tuesday, reaching $1.74. 6,726,805 shares of the company's stock traded hands, compared to its average volume of 6,320,860. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 0.98. New Gold Inc. has a 52 week low of $0.86 and a 52 week high of $1.94. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -19.33, a PEG ratio of 0.57 and a beta of 1.54.

New Gold (NYSEAMERICAN:NGD - Get Free Report) last issued its earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). The business had revenue of $199.20 million for the quarter. New Gold had a negative net margin of 8.20% and a positive return on equity of 5.63%. As a group, analysts anticipate that New Gold Inc. will post 0.09 earnings per share for the current year.

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.