Northwest & Ethical Investments L.P. Purchases 182,256 Shares of New Gold Inc. (NYSE:NGD)

Northwest & Ethical Investments L.P. boosted its stake in New Gold Inc. (NYSE:NGD - Free Report) by 75.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 424,134 shares of the company's stock after buying an additional 182,256 shares during the period. Northwest & Ethical Investments L.P. owned approximately 0.05% of New Gold worth $1,057,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NGD. DGS Capital Management LLC acquired a new position in shares of New Gold in the fourth quarter valued at approximately $30,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in New Gold in the 4th quarter valued at $74,000. Atria Wealth Solutions Inc. acquired a new position in New Gold in the 4th quarter valued at $87,000. Daiwa Securities Group Inc. bought a new position in New Gold during the 4th quarter worth $103,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of New Gold during the fourth quarter worth $107,000. 42.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NGD shares. Bank of America upgraded shares of New Gold from an "underperform" rating to a "buy" rating and upped their price target for the company from $2.60 to $3.90 in a research note on Wednesday. Scotiabank raised their target price on shares of New Gold from $3.50 to $4.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 13th. CIBC cut their price target 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 raised New Gold to a "strong-buy" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $3.66.

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New Gold Price Performance

Shares of NGD traded up $0.10 during mid-day trading on Wednesday, reaching $3.47. The company had a trading volume of 27,180,257 shares, compared to its average volume of 10,421,857. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 26.69 and a beta of 1.35. 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 company's 50 day simple moving average is $2.96 and its 200 day simple moving average is $2.84. New Gold Inc. has a 1-year low of $1.56 and a 1-year high of $3.54.

New Gold Company 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.