New Gold Inc. (NYSEAMERICAN:NGD) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its stake in New Gold Inc. (NYSEAMERICAN:NGD) by 14.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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. owned about 0.07% of New Gold worth $690,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in New Gold by 1.0% during the 3rd quarter. American Century Companies Inc. now owns 5,095,417 shares of the basic materials company’s stock worth $4,669,000 after buying an additional 48,886 shares during the last quarter. Heartland Advisors Inc. acquired a new position in New Gold in the 3rd quarter valued at about $3,185,000. U S Global Investors Inc. increased its position in New Gold by 22.5% in the 4th quarter. U S Global Investors Inc. now owns 3,144,658 shares of the basic materials company’s stock valued at $4,591,000 after acquiring an additional 577,757 shares during the period. Deutsche Bank AG increased its position in New Gold by 24.6% in the 3rd quarter. Deutsche Bank AG now owns 2,824,635 shares of the basic materials company’s stock valued at $2,570,000 after acquiring an additional 556,765 shares during the period. Finally, Intact Investment Management Inc. increased its position in New Gold by 6.9% in the 3rd quarter. Intact Investment Management Inc. now owns 2,792,200 shares of the basic materials company’s stock valued at $2,570,000 after acquiring an additional 179,500 shares during the period. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

New Gold Stock Performance

Shares of NYSEAMERICAN:NGD opened at $1.72 on Thursday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -19.11, a P/E/G ratio of 1.01 and a beta of 1.54. 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 one year low of $0.86 and a one year high of $1.94.

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

Analysts Set New Price Targets

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

New Gold 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.