Heartland Advisors Inc. Has $12.01 Million Holdings in New Gold Inc. (NYSE:NGD)

Heartland Advisors Inc. raised its stake in shares of New Gold Inc. (NYSE:NGD - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,840,650 shares of the company's stock after buying an additional 148,450 shares during the period. Heartland Advisors Inc. owned 0.61% of New Gold worth $12,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd boosted its holdings in New Gold by 326.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 59,744 shares of the company's stock valued at $172,000 after acquiring an additional 45,726 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of New Gold by 22.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 805,399 shares of the company's stock worth $2,337,000 after acquiring an additional 148,743 shares during the period. BNP Paribas Financial Markets increased its position 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 purchasing an additional 2,664,153 shares during the period. Northwest & Ethical Investments L.P. raised its stake in shares of New Gold by 115.1% in the third quarter. Northwest & Ethical Investments L.P. now owns 241,878 shares of the company's stock valued at $701,000 after purchasing an additional 129,447 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in New Gold in the third quarter worth $287,000. Institutional investors and hedge funds own 42.82% of the company's stock.

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New Gold Price Performance

New Gold stock traded down $0.15 on Tuesday, reaching $3.57. The company's stock had a trading volume of 20,051,836 shares, compared to its average volume of 10,818,669. New Gold Inc. has a twelve month low of $1.66 and a twelve month high of $3.78. 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 fifty day moving average price is $3.03 and its 200 day moving average price is $2.87. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 27.43 and a beta of 1.35.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NGD shares. CIBC lowered their price target on shares of 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 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. Bank of America upgraded shares of New Gold from an "underperform" rating to a "buy" rating and raised their price target for the stock from $2.60 to $3.90 in a research note on Wednesday, March 26th. Finally, National Bank Financial upgraded New Gold to a "strong-buy" rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.