New Gold Inc. (NYSE:NGD) Holdings Raised by Swiss National Bank

Swiss National Bank increased its position in shares of New Gold Inc. (NYSE:NGD) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,566,862 shares of the company’s stock after purchasing an additional 9,500 shares during the quarter. Swiss National Bank owned 0.20% of New Gold worth $3,911,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. DGS Capital Management LLC bought a new position in shares of New Gold in the 4th quarter worth about $30,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in New Gold in the fourth quarter worth about $74,000. Atria Wealth Solutions Inc. acquired a new position in New Gold in the fourth quarter valued at approximately $87,000. Daiwa Securities Group Inc. acquired a new position in New Gold in the fourth quarter valued at approximately $103,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of New Gold during the 4th quarter worth approximately $107,000. Institutional investors and hedge funds own 42.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. National Bank Financial upgraded New Gold to a “strong-buy” rating in a research report on Friday, March 21st. CIBC reduced their price target on shares of New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a report on Thursday, February 27th. Finally, Scotiabank increased their price objective on shares of New Gold from $3.50 to $4.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $3.60.

New Gold Trading Up 4.3 %

Shares of NYSE NGD opened at $3.37 on Wednesday. The business has a fifty day simple moving average of $2.96 and a 200-day simple moving average of $2.84. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 25.93 and a beta of 1.35. New Gold Inc. has a 12 month low of $1.56 and a 12 month high of $3.48. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

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.