New Gold Inc. (NYSE:NGD) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lowered its position in New Gold Inc. (NYSE:NGD - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,703,137 shares of the company's stock after selling 9,181,494 shares during the quarter. Van ECK Associates Corp owned approximately 8.18% of New Gold worth $160,464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in New Gold by 0.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,471,000 shares of the company's stock worth $3,669,000 after purchasing an additional 4,500 shares in the last quarter. Captrust Financial Advisors lifted its holdings in New Gold by 17.6% during 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. Geode Capital Management LLC lifted its holdings in shares of New Gold by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 372,373 shares of the company's stock valued at $1,084,000 after purchasing an additional 7,394 shares during the last quarter. Kohmann Bosshard Financial Services LLC lifted its holdings in shares of New Gold by 34.6% during the 3rd quarter. Kohmann Bosshard Financial Services LLC now owns 35,000 shares of the company's stock valued at $101,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of New Gold by 941.8% during the 3rd quarter. Allworth Financial LP now owns 10,418 shares of the company's stock valued at $30,000 after purchasing an additional 9,418 shares during the last quarter. Institutional investors own 42.82% of the company's stock.

New Gold Price Performance

NGD stock traded down $0.12 during trading on Friday, hitting $2.91. The stock had a trading volume of 12,180,095 shares, compared to its average volume of 12,047,506. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84. New Gold Inc. has a twelve month low of $1.10 and a twelve month high of $3.25. The stock has a market capitalization of $2.30 billion, a P/E ratio of 27.18 and a beta of 1.36. The company's 50-day moving average price is $2.77 and its two-hundred day moving average price is $2.73.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NGD. StockNews.com upgraded New Gold from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Scotiabank increased their price target on New Gold from $3.50 to $4.00 and gave the stock a "sector outperform" rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, New Gold presently has a consensus rating of "Buy" and an average target price of $3.60.

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.