Monaco Asset Management SAM Has $744,000 Stock Holdings in New Gold Inc. (NYSE:NGD)

Monaco Asset Management SAM decreased its position in New Gold Inc. (NYSE:NGD - Free Report) by 27.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 300,000 shares of the company's stock after selling 115,000 shares during the quarter. Monaco Asset Management SAM's holdings in New Gold were worth $744,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JGP Global Gestao de Recursos Ltda. lifted its holdings in shares of 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 buying an additional 1,412,003 shares during the last quarter. Amundi lifted its holdings in shares of New Gold by 68.6% during the fourth quarter. Amundi now owns 5,877,726 shares of the company's stock worth $16,105,000 after buying an additional 2,391,764 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of New Gold by 18.7% during the third quarter. Two Sigma Advisers LP now owns 4,322,930 shares of the company's stock worth $12,450,000 after buying 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% in 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 in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of New Gold by 22.9% in the third quarter. National Bank of Canada FI now owns 2,374,142 shares of the company's stock valued at $6,844,000 after purchasing an additional 442,527 shares in the last quarter. 42.82% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

New Gold Price Performance

NYSE:NGD traded down $0.02 during trading hours on Tuesday, reaching $3.34. The company had a trading volume of 19,969,165 shares, compared to its average volume of 10,135,594. The stock has a 50-day moving average of $2.88 and a two-hundred day moving average of $2.80. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $2.64 billion, a PE ratio of 25.69 and a beta of 1.35. New Gold Inc. has a one year low of $1.52 and a one year high of $3.48.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NGD. Scotiabank upped their target price on 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 cut their target price 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. One analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $3.60.

About New Gold

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.