Connor Clark & Lunn Investment Management Ltd. lowered its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 13.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,964,782 shares of the company's stock after selling 1,862,500 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.51% of New Gold worth $29,843,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in New Gold by 9,360.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company's stock worth $7,755,000 after buying an additional 2,664,153 shares in the last quarter. XTX Topco Ltd raised its stake in shares of New Gold by 294.7% in the third quarter. XTX Topco Ltd now owns 488,959 shares of the company's stock worth $1,408,000 after acquiring an additional 365,079 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of New Gold during the fourth quarter worth approximately $87,000. Centiva Capital LP bought a new stake in shares of New Gold during the third quarter valued at approximately $595,000. Finally, National Bank of Canada FI increased its holdings 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. Institutional investors own 42.82% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on NGD shares. Scotiabank upped their price objective on 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 on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $3.60.
Check Out Our Latest Stock Report on NGD
New Gold Trading Down 1.1 %
Shares of NGD stock traded down $0.04 on Friday, reaching $3.20. The company had a trading volume of 20,070,753 shares, compared to its average volume of 15,069,445. The stock has a market cap of $2.53 billion, a PE ratio of 24.58 and a beta of 1.35. The company has a 50-day moving average of $2.86 and a 200-day moving average of $2.79. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. New Gold Inc. has a 12 month low of $1.52 and a 12 month high of $3.31.
New Gold Profile
(
Free Report)
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.
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