New Gold Inc. (NYSE:NGD) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group cut its stake in shares of New Gold Inc. (NYSE:NGD) by 12.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,039,233 shares of the company’s stock after selling 714,855 shares during the period. Schroder Investment Management Group’s holdings in New Gold were worth $12,447,000 as of its most recent SEC filing.

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

New Gold Stock Down 2.2 %

Shares of NYSE:NGD opened at $3.54 on Friday. The company’s fifty day moving average is $3.07 and its two-hundred day moving average is $2.88. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. New Gold Inc. has a 1-year low of $1.66 and a 1-year high of $3.78. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 27.23 and a beta of 1.35.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. CIBC cut their price target on New Gold from $3.60 to $3.40 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. National Bank Financial upgraded New Gold to a “strong-buy” rating in a research note on Friday, March 21st. New Street Research set a $3.90 price target on shares of New Gold in a research note on Wednesday, March 26th. Bank of America raised shares of New Gold from an “underperform” rating to a “buy” rating and upped their price target for the company from $2.60 to $3.90 in a report on Wednesday, March 26th. Finally, Scotiabank raised their price objective on shares of New Gold from $3.50 to $4.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, New Gold has a consensus rating of “Buy” and a consensus target price of $3.70.

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.