New Gold Inc. (NYSE:NGD) Shares Acquired by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. increased its position in New Gold Inc. (NYSE:NGD) by 75.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 424,134 shares of the company’s stock after purchasing an additional 182,256 shares during the period. Northwest & Ethical Investments L.P.’s holdings in New Gold were worth $1,057,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Pekin Hardy Strauss Inc. lifted its holdings in New Gold by 43.8% in the third quarter. Pekin Hardy Strauss Inc. now owns 262,750 shares of the company’s stock worth $757,000 after acquiring an additional 80,000 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in New Gold by 326.2% in the third quarter. Dynamic Technology Lab Private Ltd now owns 59,744 shares of the company’s stock worth $172,000 after acquiring an additional 45,726 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of New Gold by 22.7% during the third quarter. The Manufacturers Life Insurance Company now owns 805,399 shares of the company’s stock valued at $2,337,000 after buying an additional 148,743 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of New Gold by 9,360.7% during the third quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company’s stock valued at $7,755,000 after buying an additional 2,664,153 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of New Gold during the third quarter valued at approximately $287,000. 42.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NGD has been the topic of a number of recent analyst reports. CIBC cut their price target 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 lifted their price target 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 analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $3.60.

New Gold Price Performance

Shares of NYSE:NGD opened at $3.22 on Friday. New Gold Inc. has a 12 month low of $1.56 and a 12 month high of $3.48. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 24.77 and a beta of 1.35. The stock’s 50 day moving average price is $2.93 and its 200 day moving average price is $2.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84.

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.