Heartland Advisors Inc. Buys 148,450 Shares of New Gold Inc. (NYSE:NGD)

Heartland Advisors Inc. raised its stake in shares of New Gold Inc. (NYSE:NGD) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,840,650 shares of the company’s stock after buying an additional 148,450 shares during the quarter. Heartland Advisors Inc. owned about 0.61% of New Gold worth $12,005,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. American Century Companies Inc. grew its holdings in New Gold by 3.9% during the fourth quarter. American Century Companies Inc. now owns 12,250,758 shares of the company’s stock valued at $30,577,000 after purchasing an additional 459,317 shares during the period. Hillsdale Investment Management Inc. boosted its position in shares of New Gold by 97.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company’s stock worth $23,657,000 after purchasing an additional 4,671,399 shares in the last quarter. JGP Global Gestao de Recursos Ltda. grew its holdings in shares of New Gold by 27.8% in the 4th quarter. JGP Global Gestao de Recursos Ltda. now owns 6,500,000 shares of the company’s stock valued at $16,120,000 after buying an additional 1,412,003 shares during the period. Amundi increased its position in shares of New Gold by 68.6% in the 4th quarter. Amundi now owns 5,877,726 shares of the company’s stock valued at $16,105,000 after buying an additional 2,391,764 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in New Gold by 18.7% during the 3rd quarter. Two Sigma Advisers LP now owns 4,322,930 shares of the company’s stock worth $12,450,000 after buying an additional 681,822 shares during the period. 42.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

NGD has been the topic of a number of research analyst reports. Bank of America raised New Gold from an “underperform” rating to a “buy” rating and raised their price target for the stock from $2.60 to $3.90 in a research report on Wednesday. Scotiabank lifted their price target on shares of New Gold from $3.50 to $4.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 13th. National Bank Financial raised shares of New Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, CIBC cut their price objective on shares of New Gold from $3.60 to $3.40 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $3.66.

New Gold Stock Performance

Shares of NGD opened at $3.62 on Friday. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 27.85 and a beta of 1.35. New Gold Inc. has a 12 month low of $1.66 and a 12 month high of $3.64. The firm has a fifty day simple moving average of $2.99 and a 200 day simple moving average of $2.85. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

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.