Quantbot Technologies LP Purchases 117,317 Shares of New Gold Inc. (NYSE:NGD)

Quantbot Technologies LP grew its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 29.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 513,402 shares of the company's stock after acquiring an additional 117,317 shares during the quarter. Quantbot Technologies LP owned 0.06% of New Gold worth $1,273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of NGD. Northwest & Ethical Investments L.P. boosted its holdings in New Gold by 75.4% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 424,134 shares of the company's stock valued at $1,057,000 after purchasing an additional 182,256 shares during the period. Swiss National Bank lifted its stake in shares of New Gold by 0.6% in the fourth quarter. Swiss National Bank now owns 1,566,862 shares of the company's stock valued at $3,911,000 after buying an additional 9,500 shares during the period. Daiwa Securities Group Inc. acquired a new stake in New Gold during the fourth quarter worth about $103,000. Ruffer LLP bought a new position in New Gold during the fourth quarter valued at about $2,976,000. Finally, Amundi raised its holdings in New Gold by 68.6% in the 4th quarter. Amundi now owns 5,877,726 shares of the company's stock valued at $16,105,000 after acquiring an additional 2,391,764 shares in the last quarter. Institutional investors and hedge funds own 42.82% of the company's stock.

New Gold Price Performance

Shares of NYSE:NGD traded down $0.02 during midday trading on Friday, reaching $3.60. The company's stock had a trading volume of 27,611,436 shares, compared to its average volume of 10,722,069. The business's fifty day simple moving average is $3.01 and its 200-day simple moving average is $2.86. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. New Gold Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $3.78. The company has a market capitalization of $2.85 billion, a P/E ratio of 27.69 and a beta of 1.35.

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Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Bank of America raised New Gold from an "underperform" rating to a "buy" rating and raised their target price for the stock from $2.60 to $3.90 in a research report on Wednesday. Scotiabank raised their price target on shares of New Gold from $3.50 to $4.00 and gave the stock a "sector outperform" rating in a research note on Thursday, February 13th. CIBC lowered their price target on New Gold from $3.60 to $3.40 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Finally, National Bank Financial raised New Gold to a "strong-buy" rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $3.66.

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.