O Shaughnessy Asset Management LLC Reduces Stock Holdings in New Gold Inc. (NYSE:NGD)

O Shaughnessy Asset Management LLC decreased its position in New Gold Inc. (NYSE:NGD - Free Report) by 33.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,623,270 shares of the company's stock after selling 814,648 shares during the quarter. O Shaughnessy Asset Management LLC owned about 0.21% of New Gold worth $4,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. raised its position 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 valued at $23,657,000 after buying an additional 4,671,399 shares during the last quarter. Amundi grew its stake in New Gold by 68.6% in the 4th quarter. Amundi now owns 5,877,726 shares of the company's stock worth $16,105,000 after acquiring an additional 2,391,764 shares during the period. Lord Abbett & CO. LLC purchased a new stake in New Gold in the 3rd quarter worth approximately $4,435,000. JGP Global Gestao de Recursos Ltda. raised its holdings in New Gold by 27.8% in the 4th quarter. JGP Global Gestao de Recursos Ltda. now owns 6,500,000 shares of the company's stock valued at $16,120,000 after acquiring an additional 1,412,003 shares during the last quarter. Finally, Ruffer LLP purchased a new position in shares of New Gold during the 4th quarter worth $2,976,000. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

New Gold Trading Down 0.7 %

Shares of New Gold stock traded down $0.02 during trading hours on Monday, hitting $2.99. The company's stock had a trading volume of 20,421,716 shares, compared to its average volume of 11,052,121. The business has a fifty day moving average of $3.08 and a 200 day moving average of $2.88. New Gold Inc. has a 1-year low of $1.66 and a 1-year high of $3.78. 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 company has a market capitalization of $2.37 billion, a PE ratio of 23.00 and a beta of 0.93.

Wall Street Analysts Forecast Growth

NGD has been the subject of a number of recent analyst reports. National Bank Financial raised New Gold to a "strong-buy" rating in a research report on Friday, March 21st. Scotiabank upped their price objective on shares of New Gold from $3.50 to $4.00 and gave the company a "sector outperform" rating in a research note on Thursday, February 13th. Raymond James set a $4.00 price objective on shares of New Gold and gave the stock a "market perform" rating in a report on Friday. CIBC lowered their target price on shares of New Gold from $3.60 to $3.40 and set an "outperform" rating for the company in a report on Thursday, February 27th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a research note on Wednesday, April 2nd. Two equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $3.74.

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.