New Gold Inc. (NYSE:NGD) Shares Sold by National Bank of Canada FI

National Bank of Canada FI cut its position in New Gold Inc. (NYSE:NGD - Free Report) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,279,015 shares of the company's stock after selling 95,127 shares during the quarter. National Bank of Canada FI owned approximately 0.29% of New Gold worth $5,667,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NGD. Franklin Resources Inc. increased its position in New Gold by 1.3% during the 4th quarter. Franklin Resources Inc. now owns 8,496,204 shares of the company's stock valued at $21,073,000 after buying an additional 110,500 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of New Gold during the fourth quarter worth about $2,830,000. Heartland Advisors Inc. increased its holdings in shares of New Gold by 3.2% during the fourth quarter. Heartland Advisors Inc. now owns 4,840,650 shares of the company's stock valued at $12,005,000 after acquiring an additional 148,450 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of New Gold by 57.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 104,000 shares of the company's stock valued at $258,000 after purchasing an additional 38,000 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in New Gold by 9.3% in the 4th quarter. LPL Financial LLC now owns 143,964 shares of the company's stock worth $357,000 after purchasing an additional 12,292 shares in the last quarter. 42.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NGD has been the topic of a number of recent analyst reports. National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a research note on Friday, March 21st. Scotiabank upped their target price on New Gold from $4.00 to $4.25 and gave the company a "sector outperform" rating in a research report on Tuesday. CIBC lowered their price target on New Gold from $3.60 to $3.40 and set an "outperform" rating for the company in a research report on Thursday, February 27th. National Bankshares reiterated an "outperform" rating on shares of New Gold in a research note on Wednesday, April 2nd. Finally, Bank of America upgraded New Gold from an "underperform" rating to a "buy" rating and raised their price objective for the stock from $2.60 to $3.90 in a research note on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $3.78.

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New Gold Stock Performance

Shares of NGD traded up $0.17 during mid-day trading on Friday, reaching $3.57. The company had a trading volume of 21,383,355 shares, compared to its average volume of 11,304,237. The stock has a market capitalization of $2.83 billion, a P/E ratio of 27.46 and a beta of 0.93. New Gold Inc. has a 52-week low of $1.66 and a 52-week high of $3.78. The stock has a 50 day moving average of $3.11 and a two-hundred day moving average of $2.89. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

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.