Marshall Wace LLP Has $6.42 Million Stock Holdings in New Gold Inc. (NYSE:NGD)

Marshall Wace LLP grew its stake in New Gold Inc. (NYSE:NGD - Free Report) by 212.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,588,318 shares of the company's stock after acquiring an additional 1,759,383 shares during the quarter. Marshall Wace LLP owned 0.33% of New Gold worth $6,419,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Hillsdale Investment Management Inc. increased its holdings in shares of New Gold by 97.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company's stock worth $23,657,000 after acquiring an additional 4,671,399 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of New Gold by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock valued at $62,363,000 after purchasing an additional 2,619,782 shares during the period. Bank of Montreal Can increased its stake in New Gold by 36.9% during the 4th quarter. Bank of Montreal Can now owns 9,703,381 shares of the company's stock worth $24,203,000 after purchasing an additional 2,613,285 shares in the last quarter. Amundi raised its holdings in New Gold by 68.6% during the 4th 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 period. Finally, Lord Abbett & CO. LLC bought a new position in New Gold in the third quarter valued at approximately $4,435,000. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Stock Performance

NYSE NGD traded down $0.07 on Friday, hitting $3.39. 21,416,944 shares of the stock were exchanged, compared to its average volume of 12,014,095. The company has a market capitalization of $2.68 billion, a PE ratio of 26.08 and a beta of 0.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. The business's fifty day moving average is $3.22 and its 200 day moving average is $2.93. New Gold Inc. has a 52 week low of $1.73 and a 52 week high of $3.86.

Wall Street Analyst Weigh In

NGD has been the topic of a number of research analyst reports. CIBC dropped their price objective 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. National Bank Financial raised New Gold to a "strong-buy" rating in a research note on Friday, March 21st. Raymond James set a $4.00 price objective on New Gold and gave the stock a "market perform" rating in a research report on Friday, April 4th. New Street Research set a $3.90 target price on New Gold in a research report on Wednesday, March 26th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a research report on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, New Gold currently has an average rating of "Buy" and an average 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.