New Gold Inc. (NYSE:NGD) Shares Sold by National Bank of Canada FI

National Bank of Canada FI decreased its stake in New Gold Inc. (NYSE:NGD) by 4.0% during the 4th quarter, Holdings Channel reports. The firm owned 2,279,015 shares of the company’s stock after selling 95,127 shares during the quarter. National Bank of Canada FI’s holdings in New Gold were worth $5,667,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. DGS Capital Management LLC purchased a new position in New Gold in the 4th quarter valued at about $30,000. Samalin Investment Counsel LLC purchased a new position in shares of New Gold in the fourth quarter valued at approximately $32,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of New Gold in the fourth quarter worth approximately $74,000. Atria Wealth Solutions Inc. purchased a new stake in shares of New Gold during the fourth quarter worth approximately $87,000. Finally, Daiwa Securities Group Inc. acquired a new position in New Gold in the 4th quarter valued at $103,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NGD. CIBC dropped their target price on shares of New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a report on Thursday, February 27th. New Street Research set a $3.90 price objective on shares of New Gold in a report on Wednesday, March 26th. National Bank Financial upgraded New Gold to a “strong-buy” rating in a report on Friday, March 21st. Scotiabank lifted their price objective on New Gold from $3.50 to $4.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 13th. Finally, Bank of America raised New Gold from an “underperform” rating to a “buy” rating and raised their target price for the stock from $2.60 to $3.90 in a research note on Wednesday, March 26th. One equities research analyst has 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.com, the company presently has a consensus rating of “Buy” and an average target price of $3.70.

New Gold Trading Down 15.0 %

Shares of New Gold stock opened at $3.01 on Monday. New Gold Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $3.78. 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 firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 23.16 and a beta of 0.93. The stock has a 50 day moving average of $3.08 and a 200 day moving average of $2.88.

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.