New Gold Inc. (NYSE:NGD) Shares Purchased by Invesco Ltd.

Invesco Ltd. increased its stake in shares of New Gold Inc. (NYSE:NGD - Free Report) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,481,005 shares of the company's stock after purchasing an additional 469,748 shares during the quarter. Invesco Ltd. owned approximately 1.70% of New Gold worth $33,433,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NGD. DGS Capital Management LLC purchased a new stake in shares of New Gold during the 4th quarter valued at $30,000. Samalin Investment Counsel LLC purchased a new stake in shares of New Gold during the fourth quarter worth about $32,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of New Gold during the fourth quarter valued at about $74,000. Atria Wealth Solutions Inc. purchased a new position in shares of New Gold in the 4th quarter valued at approximately $87,000. Finally, Daiwa Securities Group Inc. acquired a new stake in New Gold in the 4th quarter worth approximately $103,000. Institutional investors own 42.82% of the company's stock.

New Gold Stock Performance

NGD stock traded down $0.03 during trading on Wednesday, hitting $3.44. 7,705,421 shares of the company traded hands, compared to its average volume of 17,771,926. New Gold Inc. has a 1 year low of $1.67 and a 1 year high of $3.86. The company has a market cap of $2.72 billion, a PE ratio of 26.46 and a beta of 0.93. The stock's 50-day simple moving average is $3.19 and its 200 day simple moving average is $2.92. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NGD shares. Raymond James set a $4.00 price target on shares of New Gold and gave the stock a "market perform" rating in a report on Friday, April 4th. Bank of America raised New Gold from an "underperform" rating to a "buy" rating and lifted their price target for the stock from $2.60 to $3.90 in a research report on Wednesday, March 26th. Scotiabank reiterated an "outperform" rating on shares of New Gold in a research note on Monday, April 14th. CIBC reduced their price objective on New Gold from $3.60 to $3.40 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Finally, National Bank Financial upgraded New Gold to a "strong-buy" rating in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $3.85.

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.