Amundi Raises Holdings in New Gold Inc. (NYSE:NGD)

Amundi boosted its stake in New Gold Inc. (NYSE:NGD) by 68.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,877,726 shares of the company’s stock after buying an additional 2,391,764 shares during the quarter. Amundi owned approximately 0.74% of New Gold worth $16,105,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of New Gold in the fourth quarter worth $74,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in New Gold in the 4th quarter valued at about $107,000. Raymond James Financial Inc. acquired a new stake in shares of New Gold during the 4th quarter worth about $1,918,000. Aigen Investment Management LP purchased a new stake in shares of New Gold during the fourth quarter worth about $208,000. Finally, Kohmann Bosshard Financial Services LLC raised its position in shares of New Gold by 42.9% in the fourth quarter. Kohmann Bosshard Financial Services LLC now owns 50,000 shares of the company’s stock valued at $124,000 after buying an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 42.82% of the company’s stock.

New Gold Stock Up 4.9 %

Shares of NGD opened at $3.23 on Friday. New Gold Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $3.31. The company’s fifty day moving average is $2.84 and its two-hundred day moving average is $2.79. The firm has a market cap of $2.55 billion, a PE ratio of 24.85 and a beta of 1.35. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

Analysts Set New Price Targets

NGD has been the topic of a number of analyst reports. CIBC decreased their target price on shares of New Gold from $3.60 to $3.40 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Scotiabank lifted their price objective on New Gold from $3.50 to $4.00 and gave the company a “sector outperform” rating in a research 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $3.60.

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.