Bank Julius Baer & Co. Ltd Zurich Buys New Position in New Gold Inc. (NYSE:NGD)

Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of New Gold Inc. (NYSE:NGD) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 43,042 shares of the company’s stock, valued at approximately $107,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NGD. BNP Paribas Financial Markets boosted its holdings in New Gold by 9,360.7% in the third quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company’s stock worth $7,755,000 after acquiring an additional 2,664,153 shares in the last quarter. ArrowMark Colorado Holdings LLC bought a new position in New Gold in the third quarter worth approximately $4,787,000. Lord Abbett & CO. LLC bought a new position in New Gold in the third quarter worth approximately $4,435,000. JGP Global Gestao de Recursos Ltda. boosted its holdings in New Gold by 27.8% in the fourth quarter. JGP Global Gestao de Recursos Ltda. now owns 6,500,000 shares of the company’s stock worth $16,120,000 after acquiring an additional 1,412,003 shares in the last quarter. Finally, Caprock Group LLC boosted its holdings in New Gold by 118.2% in the fourth quarter. Caprock Group LLC now owns 1,745,627 shares of the company’s stock worth $4,329,000 after acquiring an additional 945,453 shares in the last quarter. Institutional investors own 42.82% of the company’s stock.

New Gold Stock Up 7.5 %

NGD stock opened at $3.00 on Wednesday. New Gold Inc. has a twelve month low of $1.52 and a twelve month high of $3.25. 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 50 day moving average is $2.82 and its 200-day moving average is $2.78. The firm has a market capitalization of $2.37 billion, a PE ratio of 23.08 and a beta of 1.35.

Analyst Ratings Changes

Several research analysts have issued reports on NGD shares. CIBC cut 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. Scotiabank increased their price target on New Gold from $3.50 to $4.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target 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.