New Gold Inc. (NYSE:NGD) Shares Acquired by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership increased its stake in shares of New Gold Inc. (NYSE:NGD) by 57.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 104,000 shares of the company’s stock after purchasing an additional 38,000 shares during the period. Artisan Partners Limited Partnership’s holdings in New Gold were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd lifted its stake in shares of New Gold by 326.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 59,744 shares of the company’s stock worth $172,000 after acquiring an additional 45,726 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of New Gold by 22.7% during the third quarter. The Manufacturers Life Insurance Company now owns 805,399 shares of the company’s stock worth $2,337,000 after acquiring an additional 148,743 shares during the period. BNP Paribas Financial Markets raised its holdings in New Gold by 9,360.7% during the third quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company’s stock worth $7,755,000 after purchasing an additional 2,664,153 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its position in New Gold by 115.1% in the third quarter. Northwest & Ethical Investments L.P. now owns 241,878 shares of the company’s stock valued at $701,000 after purchasing an additional 129,447 shares during the period. Finally, Walleye Capital LLC purchased a new stake in New Gold in the 3rd quarter valued at approximately $287,000. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

New Gold Stock Down 0.6 %

New Gold stock opened at $3.60 on Friday. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 27.69 and a beta of 1.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. New Gold Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $3.78. The stock’s fifty day moving average is $3.01 and its two-hundred day moving average is $2.86.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NGD shares. 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. CIBC cut 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. Bank of America upgraded shares of New Gold from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $2.60 to $3.90 in a research report on Wednesday. Finally, National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a report on Friday, March 21st. One research 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. Based on data from MarketBeat, New Gold has a consensus rating of “Buy” and an average target price of $3.66.

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.