Raymond James Financial Inc. Acquires Shares of 773,323 New Gold Inc. (NYSE:NGD)

Raymond James Financial Inc. bought a new position in shares of New Gold Inc. (NYSE:NGD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 773,323 shares of the company's stock, valued at approximately $1,918,000. Raymond James Financial Inc. owned about 0.10% of New Gold at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NGD. Renaissance Technologies LLC grew its holdings in New Gold by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock valued at $62,363,000 after buying an additional 2,619,782 shares in the last quarter. Invesco Ltd. grew its holdings in shares of New Gold by 3.6% in the fourth quarter. Invesco Ltd. now owns 13,481,005 shares of the company's stock valued at $33,433,000 after purchasing an additional 469,748 shares during the period. American Century Companies Inc. increased its position in New Gold by 3.9% during the fourth quarter. American Century Companies Inc. now owns 12,250,758 shares of the company's stock worth $30,577,000 after purchasing an additional 459,317 shares during the last quarter. Bank of Montreal Can raised its stake 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 purchasing an additional 2,613,285 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings in New Gold by 97.1% in the 4th 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 last quarter. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NGD has been the topic of several analyst reports. 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. New Street Research set a $3.90 price objective on New Gold in a research report on Wednesday, March 26th. CIBC decreased their target price on shares of New Gold from $3.60 to $3.40 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. National Bankshares reiterated an "outperform" rating on shares of New Gold in a research report on Wednesday, April 2nd. Finally, National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a report on Friday, March 21st. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, New Gold presently has an average rating of "Moderate Buy" and a consensus price target of $3.85.

New Gold Stock Down 2.9 %

NGD stock traded down $0.12 during midday trading on Wednesday, hitting $4.08. The company's stock had a trading volume of 35,286,825 shares, compared to its average volume of 12,703,715. The firm has a 50-day simple moving average of $3.39 and a 200-day simple moving average of $2.99. The firm has a market capitalization of $3.23 billion, a P/E ratio of 31.39 and a beta of 0.54. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. New Gold Inc. has a 52-week low of $1.74 and a 52-week high of $4.21.

New Gold 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.