New Gold Inc. (NYSE:NGD) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership trimmed its holdings in New Gold Inc. (NYSE:NGD) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,121,275 shares of the company’s stock after selling 1,303,505 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.79% of New Gold worth $35,214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Heartland Advisors Inc. increased its stake in New Gold by 3.2% in the fourth quarter. Heartland Advisors Inc. now owns 4,840,650 shares of the company’s stock valued at $12,005,000 after purchasing an additional 148,450 shares during the period. Artisan Partners Limited Partnership increased its position in New Gold by 57.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 104,000 shares of the company’s stock valued at $258,000 after acquiring an additional 38,000 shares during the period. LPL Financial LLC raised its stake in New Gold by 9.3% during the 4th quarter. LPL Financial LLC now owns 143,964 shares of the company’s stock valued at $357,000 after acquiring an additional 12,292 shares during the last quarter. Samalin Investment Counsel LLC acquired a new stake in New Gold during the 4th quarter worth approximately $32,000. Finally, Hillsdale Investment Management Inc. grew its stake in shares of New Gold by 97.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company’s stock valued at $23,657,000 after purchasing an additional 4,671,399 shares during the last quarter. Hedge funds and other institutional investors own 42.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NGD shares. CIBC cut their price target on New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Bank of America upgraded shares of New Gold from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $2.60 to $3.90 in a research report on Wednesday, March 26th. National Bank Financial raised shares of New Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, Scotiabank increased their price target on shares of New Gold from $3.50 to $4.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $3.66.

New Gold Stock Down 0.8 %

Shares of NYSE NGD opened at $3.62 on Thursday. 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 52 week low of $1.66 and a 52 week high of $3.78. The firm has a 50-day moving average price of $3.06 and a 200 day moving average price of $2.88. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

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.