U S Global Investors Inc. Sells 286,782 Shares of New Gold Inc. (NYSE:NGD)

U S Global Investors Inc. lowered its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,226,244 shares of the company's stock after selling 286,782 shares during the quarter. New Gold makes up about 0.5% of U S Global Investors Inc.'s investment portfolio, making the stock its 26th largest holding. U S Global Investors Inc. owned approximately 0.28% of New Gold worth $5,521,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Allworth Financial LP lifted its stake in New Gold by 941.8% in the third quarter. Allworth Financial LP now owns 10,418 shares of the company's stock worth $30,000 after acquiring an additional 9,418 shares during the period. DGS Capital Management LLC bought a new stake in shares of New Gold during the 4th quarter valued at about $30,000. Atria Wealth Solutions Inc. purchased a new position in shares of New Gold during the fourth quarter valued at about $87,000. Bank of New York Mellon Corp raised its stake in New Gold by 11.9% in the fourth quarter. Bank of New York Mellon Corp now owns 50,292 shares of the company's stock worth $125,000 after buying an additional 5,331 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in New Gold by 17.6% in the third quarter. Captrust Financial Advisors now owns 44,700 shares of the company's stock worth $129,000 after buying an additional 6,700 shares during the period. 42.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Scotiabank upped their target price 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 reduced 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 research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, New Gold has an average rating of "Buy" and an average price target of $3.60.

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New Gold Stock Up 0.4 %

Shares of NGD stock traded up $0.01 during trading hours on Tuesday, hitting $2.68. 21,700,331 shares of the company's stock traded hands, compared to its average volume of 13,450,994. 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 stock's fifty day simple moving average is $2.79 and its two-hundred day simple moving average is $2.78. New Gold Inc. has a 12-month low of $1.40 and a 12-month high of $3.25. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 20.62 and a beta of 1.36.

About New Gold

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.