Quantbot Technologies LP Boosts Stake in New Gold Inc. (NYSE:NGD)

Quantbot Technologies LP increased its position in New Gold Inc. (NYSE:NGD) by 29.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 513,402 shares of the company’s stock after purchasing an additional 117,317 shares during the quarter. Quantbot Technologies LP owned approximately 0.06% of New Gold worth $1,273,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. DGS Capital Management LLC purchased a new stake in shares of New Gold in the 4th quarter worth about $30,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in New Gold in the fourth quarter worth about $74,000. Atria Wealth Solutions Inc. purchased a new stake in New Gold in the fourth quarter worth about $87,000. Daiwa Securities Group Inc. purchased a new position in shares of New Gold during the fourth quarter valued at approximately $103,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of New Gold in the 4th quarter worth approximately $107,000. 42.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NGD has been the subject of a number of analyst reports. CIBC reduced their price objective on New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Scotiabank increased their target price on New Gold from $3.50 to $4.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, New Gold has a consensus rating of “Buy” and an average price target of $3.60.

New Gold Price Performance

Shares of NYSE NGD opened at $3.23 on Tuesday. The company has a 50 day moving average of $2.95 and a 200 day moving average of $2.83. 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 Inc. has a twelve month low of $1.56 and a twelve month high of $3.48. The firm has a market cap of $2.55 billion, a P/E ratio of 24.85 and a beta of 1.35.

New Gold Company 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.