Virtu Financial LLC Sells 221,110 Shares of New Gold Inc. (NYSE:NGD)

Virtu Financial LLC lessened its holdings in New Gold Inc. (NYSE:NGD) by 67.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,660 shares of the company’s stock after selling 221,110 shares during the quarter. Virtu Financial LLC’s holdings in New Gold were worth $262,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. BNP Paribas Financial Markets increased its stake 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 valued at $7,755,000 after acquiring an additional 2,664,153 shares during the period. Amundi grew its stake 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 purchasing an additional 2,391,764 shares during the period. ArrowMark Colorado Holdings LLC bought a new stake in shares of New Gold in the 3rd quarter valued at approximately $4,787,000. Lord Abbett & CO. LLC bought a new position in shares of New Gold during the 3rd quarter worth approximately $4,435,000. Finally, JGP Global Gestao de Recursos Ltda. boosted its stake in 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 in the last quarter. Institutional investors and hedge funds own 42.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

New Gold Stock Performance

Shares of NGD stock opened at $3.60 on Friday. New Gold Inc. has a 12 month low of $1.66 and a 12 month high of $3.78. The company’s fifty day simple moving average is $3.01 and its 200-day simple moving average is $2.86. The firm has a market cap of $2.85 billion, a PE ratio of 27.69 and a beta of 1.35. The company has a quick ratio of 0.84, a current ratio of 1.39 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.