SIH Partners LLLP Takes $27,000 Position in New Gold Inc. (NYSE:NGD)

SIH Partners LLLP bought a new position in shares of New Gold Inc. (NYSE:NGD) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,736 shares of the company’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NGD. DGS Capital Management LLC acquired a new position in shares of New Gold during the 4th quarter worth about $30,000. Samalin Investment Counsel LLC acquired a new stake in shares of New Gold in the fourth quarter valued at approximately $32,000. Bank of Nova Scotia bought a new position in shares of New Gold during the 4th quarter worth approximately $68,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of New Gold during the 4th quarter worth approximately $74,000. Finally, Atria Wealth Solutions Inc. bought a new stake in New Gold in the 4th quarter valued at $87,000. 42.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Scotiabank reissued an “outperform” rating on shares of New Gold in a research report on Monday, April 14th. New Street Research set a $3.90 price objective on shares of New Gold in a research report on Wednesday, March 26th. CIBC decreased their target price on 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 reissued an “outperform” rating on shares of New Gold in a report on Wednesday, April 2nd. Finally, Bank of America raised 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 report on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, New Gold currently has a consensus rating of “Buy” and an average price target of $3.85.

New Gold Stock Performance

Shares of New Gold stock opened at $3.68 on Tuesday. The company has a 50 day moving average of $3.19 and a 200-day moving average of $2.92. The company has a market cap of $2.91 billion, a PE ratio of 28.31 and a beta of 0.93. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. New Gold Inc. has a 1-year low of $1.66 and a 1-year high of $3.86.

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.