Captrust Financial Advisors Increases Holdings in New Gold Inc. (NYSE:NGD)

Captrust Financial Advisors increased its position in New Gold Inc. (NYSE:NGD) by 24.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 55,700 shares of the company’s stock after purchasing an additional 11,000 shares during the period. Captrust Financial Advisors’ holdings in New Gold were worth $138,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC raised its stake in New Gold by 11.6% during the 4th quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company’s stock valued at $62,363,000 after acquiring an additional 2,619,782 shares during the last quarter. Invesco Ltd. lifted its stake in shares of New Gold by 3.6% during the 4th quarter. Invesco Ltd. now owns 13,481,005 shares of the company’s stock worth $33,433,000 after purchasing an additional 469,748 shares during the period. American Century Companies Inc. lifted its stake in shares of New Gold by 3.9% during the 4th quarter. American Century Companies Inc. now owns 12,250,758 shares of the company’s stock worth $30,577,000 after purchasing an additional 459,317 shares during the period. Bank of Montreal Can lifted its stake in shares of New Gold by 36.9% during the 4th quarter. Bank of Montreal Can now owns 9,703,381 shares of the company’s stock worth $24,203,000 after purchasing an additional 2,613,285 shares during the period. Finally, Hillsdale Investment Management Inc. raised its position in shares of New Gold by 97.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company’s stock worth $23,657,000 after buying an additional 4,671,399 shares during the period. 42.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NGD has been the topic of several research reports. CIBC raised their price objective on New Gold from $3.40 to $4.75 and gave the company an “outperformer” rating in a research report on Thursday, May 8th. New Street Research set a $3.90 target price on New Gold in a research note on Wednesday, March 26th. National Bank Financial raised New Gold to a “strong-buy” rating in a report on Friday, March 21st. Scotiabank reissued an “outperform” rating on shares of New Gold in a report on Monday, April 14th. Finally, Bank of America upgraded shares of New Gold from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $2.60 to $3.90 in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, New Gold has an average rating of “Buy” and an average target price of $4.04.

New Gold Stock Down 0.9%

NGD stock opened at $4.21 on Friday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. New Gold Inc. has a 1 year low of $1.86 and a 1 year high of $4.31. The company has a fifty day simple moving average of $3.61 and a 200 day simple moving average of $3.07. The firm has a market cap of $3.33 billion, a PE ratio of 32.39 and a beta of 0.54.

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.