Oppenheimer & Close LLC Sells 39,290 Shares of New Gold Inc. (NYSE:NGD)

Oppenheimer & Close LLC reduced its position in shares of New Gold Inc. (NYSE:NGD) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,653,580 shares of the company’s stock after selling 39,290 shares during the quarter. New Gold accounts for about 3.4% of Oppenheimer & Close LLC’s holdings, making the stock its 11th biggest position. Oppenheimer & Close LLC’s holdings in New Gold were worth $4,101,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC grew its holdings in shares of New Gold by 9.3% during the fourth quarter. LPL Financial LLC now owns 143,964 shares of the company’s stock worth $357,000 after purchasing an additional 12,292 shares during the last quarter. Samalin Investment Counsel LLC bought a new stake in New Gold in the fourth quarter valued at approximately $32,000. Hillsdale Investment Management Inc. boosted its holdings in New Gold by 97.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company’s stock valued at $23,657,000 after acquiring an additional 4,671,399 shares during the last quarter. American Century Companies Inc. boosted its holdings in New Gold by 3.9% in the fourth quarter. American Century Companies Inc. now owns 12,250,758 shares of the company’s stock valued at $30,577,000 after acquiring an additional 459,317 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in New Gold by 29.6% in the fourth quarter. Quantbot Technologies LP now owns 513,402 shares of the company’s stock valued at $1,273,000 after acquiring an additional 117,317 shares during the last quarter. 42.82% of the stock is currently owned by institutional investors.

New Gold Price Performance

Shares of NGD opened at $3.22 on Friday. New Gold Inc. has a 52-week low of $1.56 and a 52-week high of $3.48. 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 business’s 50 day moving average price is $2.93 and its two-hundred day moving average price is $2.82. The firm has a market cap of $2.55 billion, a PE ratio of 24.77 and a beta of 1.35.

Analyst Ratings Changes

Several analysts recently commented on NGD shares. CIBC reduced their target price on New Gold from $3.60 to $3.40 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Scotiabank upped their target price on New Gold from $3.50 to $4.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $3.60.

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.