New Gold Inc. (NYSE:NGD) Shares Bought by Aquatic Capital Management LLC

Aquatic Capital Management LLC lifted its stake in shares of New Gold Inc. (NYSE:NGD) by 187.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 591,640 shares of the company’s stock after purchasing an additional 386,040 shares during the quarter. Aquatic Capital Management LLC owned about 0.07% of New Gold worth $1,467,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in NGD. Hillsdale Investment Management Inc. raised its holdings in shares of New Gold by 97.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company’s stock worth $23,657,000 after purchasing an additional 4,671,399 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in New Gold by 97.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company’s stock valued at $14,742,000 after purchasing an additional 2,931,470 shares during the last quarter. Renaissance Technologies LLC increased its position in New Gold by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company’s stock worth $62,363,000 after purchasing an additional 2,619,782 shares during the last quarter. Bank of Montreal Can increased its holdings in New Gold by 36.9% in the fourth quarter. Bank of Montreal Can now owns 9,703,381 shares of the company’s stock worth $24,203,000 after buying an additional 2,613,285 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of New Gold during the 4th quarter worth $6,111,000. 42.82% of the stock is owned by institutional investors and hedge funds.

New Gold Price Performance

Shares of NGD stock opened at $3.34 on Wednesday. The firm’s 50 day moving average price is $3.24 and its two-hundred day moving average price is $2.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a market cap of $2.64 billion, a PE ratio of 25.69 and a beta of 0.93. New Gold Inc. has a 52-week low of $1.73 and a 52-week high of $3.86.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NGD. New Street Research set a $3.90 price objective on New Gold in a research note on Wednesday, March 26th. Raymond James set a $4.00 target price on shares of New Gold and gave the company a “market perform” rating in a research note on Friday, April 4th. CIBC decreased their price target on shares of New Gold from $3.60 to $3.40 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Scotiabank reiterated an “outperform” rating on shares of New Gold in a research note on Monday, April 14th. Finally, National Bankshares reiterated an “outperform” rating on shares of New Gold in a research report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $3.85.

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.