Schroder Investment Management Group Sells 714,855 Shares of New Gold Inc. (NYSE:NGD)

Schroder Investment Management Group decreased its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,039,233 shares of the company's stock after selling 714,855 shares during the quarter. Schroder Investment Management Group owned 0.64% of New Gold worth $12,447,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Heartland Advisors Inc. lifted its holdings in shares of New Gold by 3.2% in the fourth quarter. Heartland Advisors Inc. now owns 4,840,650 shares of the company's stock valued at $12,005,000 after purchasing an additional 148,450 shares in the last quarter. Artisan Partners Limited Partnership raised its position in New Gold by 57.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 104,000 shares of the company's stock valued at $258,000 after buying an additional 38,000 shares during the last quarter. LPL Financial LLC lifted its stake in New Gold by 9.3% during the 4th quarter. LPL Financial LLC now owns 143,964 shares of the company's stock valued at $357,000 after acquiring an additional 12,292 shares in the last quarter. Samalin Investment Counsel LLC purchased a new position in New Gold during the 4th quarter worth $32,000. Finally, Hillsdale Investment Management Inc. grew its stake in shares of New Gold by 97.1% in the 4th 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. Institutional investors and hedge funds own 42.82% of the company's stock.

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Wall Street Analysts Forecast Growth

NGD has been the topic of a number of recent analyst reports. Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and raised their price target for the company from $2.60 to $3.90 in a research report on Wednesday, March 26th. National Bank Financial upgraded New Gold to a "strong-buy" rating in a research note on Friday, March 21st. Raymond James set a $4.00 price target on New Gold and gave the company a "market perform" rating in a research report on Friday. Scotiabank lifted their price target on New Gold from $4.00 to $4.25 and gave the stock a "sector outperform" rating in a report on Tuesday. Finally, New Street Research set a $3.90 price objective on New Gold in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $3.78.

New Gold Stock Performance

Shares of NGD traded down $0.01 during mid-day trading on Tuesday, hitting $2.98. The stock had a trading volume of 22,448,562 shares, compared to its average volume of 11,117,241. New Gold Inc. has a 52 week low of $1.66 and a 52 week high of $3.78. 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 has a fifty day moving average price of $3.08 and a 200-day moving average price of $2.88. The firm has a market cap of $2.36 billion, a P/E ratio of 22.92 and a beta of 0.93.

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.