Swiss National Bank Has $3.91 Million Stock Position in New Gold Inc. (NYSE:NGD)

Swiss National Bank grew its position in New Gold Inc. (NYSE:NGD) by 0.6% during the 4th quarter, according to the company in its most recent filing 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 period. Swiss National Bank’s holdings in New Gold were worth $3,911,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd grew its position in New Gold by 326.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 59,744 shares of the company’s stock worth $172,000 after buying an additional 45,726 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in New Gold by 22.7% in the third quarter. The Manufacturers Life Insurance Company now owns 805,399 shares of the company’s stock valued at $2,337,000 after acquiring an additional 148,743 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of New Gold by 9,360.7% in the third quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company’s stock worth $7,755,000 after acquiring an additional 2,664,153 shares in the last quarter. Northwest & Ethical Investments L.P. increased its holdings in shares of New Gold by 115.1% in the third quarter. Northwest & Ethical Investments L.P. now owns 241,878 shares of the company’s stock worth $701,000 after acquiring an additional 129,447 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of New Gold during the third quarter worth about $287,000. 42.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Scotiabank raised 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. CIBC cut their target price on shares of New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, National Bank Financial raised New Gold to a “strong-buy” rating in a research report on Friday, March 21st. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $3.60.

New Gold Stock Performance

Shares of NYSE:NGD opened at $3.37 on Wednesday. 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 Inc. has a 12-month low of $1.56 and a 12-month high of $3.48. The company’s 50 day moving average price is $2.96 and its two-hundred day moving average price is $2.84. The firm has a market cap of $2.67 billion, a PE ratio of 25.93 and a beta of 1.35.

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.