New Gold Inc. (NYSE:NGD) Holdings Boosted by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in New Gold Inc. (NYSE:NGD) by 213.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 512,510 shares of the company’s stock after acquiring an additional 349,167 shares during the period. Russell Investments Group Ltd. owned 0.06% of New Gold worth $1,273,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. National Bankshares reissued an “outperform” rating on shares of New Gold in a research note on Wednesday, April 2nd. Scotiabank reiterated an “outperform” rating on shares of New Gold in a research report on Monday, April 14th. New Street Research set a $3.90 price objective on New Gold in a report on Wednesday, March 26th. CIBC cut their target price on 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, Bank of America raised New Gold from an “underperform” rating to a “buy” rating and increased their price target for the stock from $2.60 to $3.90 in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, New Gold has a consensus rating of “Buy” and a consensus target price of $3.85.

New Gold Stock Down 2.7 %

Shares of NGD stock opened at $3.64 on Monday. New Gold Inc. has a 1 year low of $1.66 and a 1 year high of $3.86. 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 business’s fifty day moving average is $3.17 and its 200-day moving average is $2.91. The stock has a market cap of $2.88 billion, a PE ratio of 28.00 and a beta of 0.93.

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.