O Shaughnessy Asset Management LLC Has $4.05 Million Stock Position in New Gold Inc. (NYSE:NGD)

O Shaughnessy Asset Management LLC trimmed its stake in shares of New Gold Inc. (NYSE:NGD) by 33.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,623,270 shares of the company’s stock after selling 814,648 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.21% of New Gold worth $4,049,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NGD. DGS Capital Management LLC bought a new position in New Gold in the 4th quarter worth approximately $30,000. Samalin Investment Counsel LLC bought a new stake in shares of New Gold during the 4th quarter valued at $32,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of New Gold in the 4th quarter valued at $74,000. Atria Wealth Solutions Inc. bought a new position in shares of New Gold in the 4th quarter worth $87,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of New Gold during the fourth quarter worth $103,000. 42.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Bank of America raised New Gold from an “underperform” rating to a “buy” rating and increased their target price for the company from $2.60 to $3.90 in a research note on Wednesday, March 26th. Scotiabank increased 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 report on Thursday, February 13th. CIBC reduced 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 note on Thursday, February 27th. Finally, National Bank Financial raised shares of New Gold to a “strong-buy” rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, New Gold has an average rating of “Buy” and an average target price of $3.66.

New Gold Stock Performance

Shares of NGD opened at $3.62 on Thursday. The firm has a market cap of $2.86 billion, a P/E ratio of 27.85 and a beta of 1.35. New Gold Inc. has a twelve month low of $1.66 and a twelve month high of $3.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. The firm’s 50 day moving average price is $3.06 and its two-hundred day moving average price is $2.88.

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.