Wellington Management Group LLP Makes New $2.83 Million Investment in New Gold Inc. (NYSE:NGD)

Wellington Management Group LLP acquired a new position in New Gold Inc. (NYSE:NGD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,133,660 shares of the company's stock, valued at approximately $2,830,000. Wellington Management Group LLP owned approximately 0.14% of New Gold as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Captrust Financial Advisors increased its stake 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 acquiring an additional 6,700 shares during the last quarter. HighTower Advisors LLC raised its holdings in New Gold by 505.1% during the 3rd quarter. HighTower Advisors LLC now owns 111,360 shares of the company's stock valued at $320,000 after buying an additional 92,956 shares during the period. Public Employees Retirement System of Ohio purchased a new position in New Gold during the third quarter worth $704,000. Geode Capital Management LLC increased its position in New Gold by 2.0% during the third quarter. Geode Capital Management LLC now owns 372,373 shares of the company's stock valued at $1,084,000 after acquiring an additional 7,394 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in New Gold by 92.6% during the third quarter. Toronto Dominion Bank now owns 110,318 shares of the company's stock valued at $318,000 after acquiring an additional 53,051 shares during the last quarter. 42.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a report on Friday, March 21st. CIBC reduced their price target on New Gold from $3.60 to $3.40 and set an "outperform" rating on the stock in a report on Thursday, February 27th. New Street Research set a $3.90 price objective on New Gold in a report on Wednesday, March 26th. National Bankshares reiterated an "outperform" rating on shares of New Gold in a research note on Wednesday, April 2nd. Finally, Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and boosted their target price for the company from $2.60 to $3.90 in a research note on Wednesday, March 26th. Two equities 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 stock. Based on data from MarketBeat, New Gold currently has a consensus rating of "Buy" and an average target price of $3.85.

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New Gold Stock Up 1.4 %

Shares of NYSE:NGD traded up $0.05 during trading hours on Tuesday, hitting $3.64. The company's stock had a trading volume of 18,400,731 shares, compared to its average volume of 11,354,917. 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 firm's fifty day moving average price is $3.12 and its 200 day moving average price is $2.89. New Gold Inc. has a 52 week low of $1.66 and a 52 week high of $3.78. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 28.00 and a beta of 0.93.

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.