New Gold Inc. (NYSEAMERICAN:NGD) Stock Holdings Lessened by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its stake in New Gold Inc. (NYSEAMERICAN:NGD) by 14.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 473,673 shares of the basic materials company’s stock after selling 80,941 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in New Gold were worth $690,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of NGD. First Citizens Bank & Trust Co. purchased a new position in New Gold during the 3rd quarter worth approximately $61,000. SG Americas Securities LLC grew its position in New Gold by 35.8% during the 3rd quarter. SG Americas Securities LLC now owns 324,687 shares of the basic materials company’s stock worth $295,000 after purchasing an additional 85,605 shares in the last quarter. Mackenzie Financial Corp grew its position in New Gold by 147.3% during the 3rd quarter. Mackenzie Financial Corp now owns 2,157,344 shares of the basic materials company’s stock worth $2,124,000 after purchasing an additional 1,284,920 shares in the last quarter. Intact Investment Management Inc. grew its position in New Gold by 6.9% during the 3rd quarter. Intact Investment Management Inc. now owns 2,792,200 shares of the basic materials company’s stock worth $2,570,000 after purchasing an additional 179,500 shares in the last quarter. Finally, Deutsche Bank AG grew its position in New Gold by 24.6% during the 3rd quarter. Deutsche Bank AG now owns 2,824,635 shares of the basic materials company’s stock worth $2,570,000 after purchasing an additional 556,765 shares in the last quarter. Institutional investors own 42.82% of the company’s stock.

New Gold Stock Performance

New Gold stock opened at $1.72 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.54. New Gold Inc. has a 12 month low of $0.86 and a 12 month high of $1.94. The firm has a market cap of $1.19 billion, a PE ratio of -19.11, a P/E/G ratio of 1.01 and a beta of 1.54.

New Gold (NYSEAMERICAN:NGD) last posted its earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $199.20 million for the quarter. New Gold had a positive return on equity of 5.63% and a negative net margin of 8.20%. On average, analysts forecast that New Gold Inc. will post 0.05 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on NGD shares. Scotiabank lifted their price objective on shares of New Gold from $1.65 to $2.00 and gave the stock a “sector perform” rating in a research report on Monday, April 8th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of New Gold in a research report on Monday, April 8th. Finally, StockNews.com cut shares of New Gold from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $1.64.

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.