HC Advisors LLC Reduces Position in New Gold Inc. (NYSE:NGD)

HC Advisors LLC trimmed its holdings in shares of New Gold Inc. (NYSE:NGD) by 80.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,800 shares of the company’s stock after selling 141,061 shares during the quarter. HC Advisors LLC’s holdings in New Gold were worth $84,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of NGD. Allworth Financial LP grew its stake in New Gold by 941.8% in the third quarter. Allworth Financial LP now owns 10,418 shares of the company’s stock worth $30,000 after purchasing an additional 9,418 shares in the last quarter. DGS Capital Management LLC acquired a new position in New Gold in the fourth quarter worth about $30,000. Atria Wealth Solutions Inc. acquired a new position in New Gold in the fourth quarter worth about $87,000. Bank of New York Mellon Corp grew its stake in New Gold by 11.9% in the fourth quarter. Bank of New York Mellon Corp now owns 50,292 shares of the company’s stock worth $125,000 after purchasing an additional 5,331 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in New Gold by 17.6% in the third quarter. Captrust Financial Advisors now owns 44,700 shares of the company’s stock worth $129,000 after purchasing an additional 6,700 shares in the last quarter. 42.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NGD. Scotiabank lifted their price target on New Gold from $3.50 to $4.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. CIBC decreased their target price on New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a research note on Thursday. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, New Gold currently has a consensus rating of “Buy” and an average target price of $3.60.

New Gold Stock Performance

Shares of NGD stock opened at $2.70 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $2.78 and a two-hundred day moving average of $2.77. New Gold Inc. has a 52 week low of $1.12 and a 52 week high of $3.25. The company has a market cap of $2.14 billion, a P/E ratio of 20.77 and a beta of 1.36.

About New Gold

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.