New Gold Inc. $NGD Shares Sold by Swiss National Bank

Swiss National Bank decreased its holdings in shares of New Gold Inc. (NYSE:NGD) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,541,862 shares of the company’s stock after selling 25,000 shares during the quarter. Swiss National Bank owned approximately 0.19% of New Gold worth $5,704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cary Street Partners Financial LLC acquired a new stake in New Gold during the first quarter worth about $37,000. SIH Partners LLLP acquired a new stake in shares of New Gold in the fourth quarter valued at approximately $27,000. Tudor Investment Corp ET AL acquired a new stake in shares of New Gold in the fourth quarter valued at approximately $27,000. Nwam LLC acquired a new stake in shares of New Gold in the first quarter valued at approximately $45,000. Finally, Private Advisor Group LLC acquired a new stake in shares of New Gold in the first quarter valued at approximately $50,000. Institutional investors and hedge funds own 42.82% of the company’s stock.

New Gold Stock Down 0.2%

Shares of NYSE:NGD opened at $5.20 on Tuesday. 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 company has a market cap of $4.12 billion, a PE ratio of 40.00 and a beta of 0.38. New Gold Inc. has a 52 week low of $2.31 and a 52 week high of $5.33. The firm has a 50 day simple moving average of $4.72 and a 200 day simple moving average of $3.93.

Analysts Set New Price Targets

Several brokerages have commented on NGD. Wall Street Zen upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Raymond James Financial upgraded shares of New Gold to a “hold” rating and set a $4.00 price objective for the company in a report on Monday, June 30th. National Bankshares reiterated an “outperform” rating on shares of New Gold in a report on Tuesday, June 24th. Finally, CIBC increased their price objective on shares of New Gold from $5.50 to $6.25 and gave the company an “outperformer” rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $4.38.

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.