Scotia Capital Inc. Has $132,000 Stock Holdings in New Gold Inc. (NYSE:NGD)

Scotia Capital Inc. lowered its position in New Gold Inc. (NYSE:NGD - Free Report) by 68.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,374 shares of the company's stock after selling 114,486 shares during the quarter. Scotia Capital Inc.'s holdings in New Gold were worth $132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Atria Wealth Solutions Inc. acquired a new stake in shares of New Gold in the fourth quarter worth $87,000. Virtu Financial LLC bought a new stake in shares of New Gold in the third quarter valued at approximately $941,000. Raymond James Financial Inc. acquired a new stake in shares of New Gold in the fourth quarter worth $1,918,000. HighTower Advisors LLC increased its position in New Gold by 505.1% during the third quarter. HighTower Advisors LLC now owns 111,360 shares of the company's stock worth $320,000 after acquiring an additional 92,956 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in 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. 42.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. New Street Research set a $3.90 target price on New Gold in a research note on Wednesday, March 26th. Scotiabank reaffirmed an "outperform" rating on shares of New Gold in a report on Monday, April 14th. National Bank Financial raised shares of New Gold to a "strong-buy" rating in a research note on Friday, March 21st. 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. Finally, 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. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $3.85.

New Gold Stock Down 2.7 %

Shares of NYSE NGD traded down $0.10 during trading hours on Friday, hitting $3.64. The company had a trading volume of 23,362,842 shares, compared to its average volume of 11,505,908. The stock has a market capitalization of $2.88 billion, a P/E ratio of 28.00 and a beta of 0.93. 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 firm's 50 day moving average is $3.17 and its 200-day moving average is $2.91. New Gold Inc. has a 1-year low of $1.66 and a 1-year high of $3.86.

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.