New Gold Inc. (NYSE:NGD) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. lifted its position in New Gold Inc. (NYSE:NGD - Free Report) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,250,758 shares of the company's stock after purchasing an additional 459,317 shares during the period. American Century Companies Inc. owned 1.55% of New Gold worth $30,577,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DGS Capital Management LLC purchased a new stake in New Gold during the 4th quarter valued at about $30,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in New Gold in the 4th quarter valued at $74,000. Atria Wealth Solutions Inc. acquired a new position in New Gold during the fourth quarter worth about $87,000. Daiwa Securities Group Inc. purchased a new stake in shares of New Gold in the fourth quarter valued at approximately $103,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of New Gold in the 4th quarter worth $107,000. 42.82% of the stock is currently owned by institutional investors.

New Gold Stock Down 0.8 %

NYSE NGD traded down $0.03 on Wednesday, reaching $3.62. The company had a trading volume of 21,805,747 shares, compared to its average volume of 10,919,576. The firm has a market capitalization of $2.86 billion, a PE ratio of 27.85 and a beta of 1.35. The firm has a 50-day moving average of $3.06 and a 200-day moving average of $2.88. New Gold Inc. has a 1 year low of $1.66 and a 1 year high of $3.78. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84.

Remove Ads

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NGD shares. Bank of America upgraded New Gold from an "underperform" rating to a "buy" rating and increased their price target for the stock from $2.60 to $3.90 in a report on Wednesday, March 26th. CIBC reduced their price objective 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. Scotiabank boosted their price target 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. Finally, National Bank Financial upgraded New Gold to a "strong-buy" rating in a report on Friday, March 21st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $3.66.

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.