Amundi Raises Stake in New Gold Inc. (NYSE:NGD)

Amundi grew its position in shares of New Gold Inc. (NYSE:NGD - Free Report) by 68.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,877,726 shares of the company's stock after buying an additional 2,391,764 shares during the quarter. Amundi owned 0.74% of New Gold worth $16,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NGD. JGP Global Gestao de Recursos Ltda. lifted its holdings in New Gold by 27.8% during the fourth quarter. JGP Global Gestao de Recursos Ltda. now owns 6,500,000 shares of the company's stock worth $16,120,000 after acquiring an additional 1,412,003 shares during the period. Two Sigma Advisers LP increased its position in shares of New Gold by 18.7% during the 3rd quarter. Two Sigma Advisers LP now owns 4,322,930 shares of the company's stock valued at $12,450,000 after purchasing an additional 681,822 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of New Gold by 9,360.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company's stock worth $7,755,000 after purchasing an additional 2,664,153 shares during the period. National Bank of Canada FI boosted its holdings in shares of New Gold by 22.9% in the 3rd quarter. National Bank of Canada FI now owns 2,374,142 shares of the company's stock worth $6,844,000 after buying an additional 442,527 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in New Gold by 3.7% during the fourth quarter. CIBC Asset Management Inc now owns 2,183,620 shares of the company's stock valued at $5,441,000 after buying an additional 78,074 shares during the period. Hedge funds and other institutional investors own 42.82% of the company's stock.

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Analyst Upgrades and Downgrades

NGD has been the topic of a number of research analyst reports. Scotiabank boosted their target price on shares of New Gold from $3.50 to $4.00 and gave the company a "sector outperform" rating in a research note on Thursday, February 13th. CIBC dropped 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. 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.com, the company presently has a consensus rating of "Buy" and a consensus target price of $3.60.

New Gold Stock Performance

Shares of NYSE NGD traded up $0.17 during midday trading on Monday, hitting $3.36. The company's stock had a trading volume of 17,296,947 shares, compared to its average volume of 10,096,202. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 25.85 and a beta of 1.35. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average price of $2.87 and a 200 day moving average price of $2.80. New Gold Inc. has a one year low of $1.52 and a one year high of $3.38.

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.