JGP Global Gestao de Recursos Ltda. Increases Holdings in New Gold Inc. (NYSE:NGD)

JGP Global Gestao de Recursos Ltda. lifted its holdings in shares of New Gold Inc. (NYSE:NGD) by 27.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,500,000 shares of the company’s stock after purchasing an additional 1,412,003 shares during the period. New Gold accounts for about 36.7% of JGP Global Gestao de Recursos Ltda.’s portfolio, making the stock its largest position. JGP Global Gestao de Recursos Ltda. owned 0.82% of New Gold worth $16,120,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NGD. Allworth Financial LP lifted its stake in shares of New Gold by 941.8% during the third quarter. Allworth Financial LP now owns 10,418 shares of the company’s stock valued at $30,000 after acquiring an additional 9,418 shares during the period. DGS Capital Management LLC acquired a new position in shares of New Gold during the fourth quarter valued at $30,000. Eastern Bank acquired a new position in shares of New Gold during the third quarter valued at $33,000. NorthCrest Asset Manangement LLC acquired a new position in shares of New Gold during the third quarter valued at $58,000. Finally, Morton Capital Management LLC CA lifted its stake in shares of New Gold by 18.9% during the third quarter. Morton Capital Management LLC CA now owns 31,494 shares of the company’s stock valued at $91,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 42.82% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, New Gold currently has a consensus rating of “Buy” and an average price target of $3.41.

New Gold Trading Down 0.7 %

NYSE NGD opened at $3.02 on Monday. The firm has a market cap of $2.39 billion, a P/E ratio of 151.00 and a beta of 1.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84. The stock’s 50-day moving average is $2.72 and its 200-day moving average is $2.67. New Gold Inc. has a one year low of $1.09 and a one year high of $3.25.

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.