Nokomis Capital L.L.C. Has $10.29 Million Position in New Gold Inc. (NYSE:NGD)

Nokomis Capital L.L.C. raised its holdings in New Gold Inc. (NYSE:NGD) by 203.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,147,296 shares of the company’s stock after acquiring an additional 2,782,296 shares during the quarter. New Gold makes up 3.7% of Nokomis Capital L.L.C.’s holdings, making the stock its 8th largest holding. Nokomis Capital L.L.C. owned about 0.52% of New Gold worth $10,285,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. DGS Capital Management LLC purchased a new stake in shares of New Gold during the fourth quarter valued at $30,000. Caprock Group LLC grew its stake in New Gold by 118.2% in the 4th quarter. Caprock Group LLC now owns 1,745,627 shares of the company’s stock worth $4,329,000 after acquiring an additional 945,453 shares in the last quarter. JGP Global Gestao de Recursos Ltda. increased its position in shares of New Gold by 27.8% during the fourth quarter. JGP Global Gestao de Recursos Ltda. now owns 6,500,000 shares of the company’s stock worth $16,120,000 after acquiring an additional 1,412,003 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of New Gold by 0.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,471,000 shares of the company’s stock worth $3,669,000 after acquiring an additional 4,500 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of New Gold by 3.7% during the fourth quarter. CIBC Asset Management Inc now owns 2,183,620 shares of the company’s stock valued at $5,441,000 after acquiring an additional 78,074 shares in the last quarter. Institutional investors own 42.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. New Street Research set a $3.90 price objective on New Gold in a research note on Wednesday, March 26th. CIBC increased their price target on New Gold from $3.40 to $4.75 and gave the stock an “outperformer” rating in a research report on Thursday, May 8th. StockNews.com upgraded New Gold from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. National Bankshares reaffirmed an “outperform” rating on shares of New Gold in a research note on Wednesday, April 2nd. Finally, Raymond James set a $4.00 target price on shares of New Gold and gave the stock a “market perform” rating in a report on Friday, April 4th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, New Gold presently has a consensus rating of “Buy” and an average price target of $4.04.

New Gold Trading Up 1.8%

Shares of NYSE NGD opened at $3.88 on Wednesday. The business has a fifty day moving average price of $3.48 and a 200 day moving average price of $3.02. New Gold Inc. has a 1-year low of $1.74 and a 1-year high of $4.21. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. The stock has a market capitalization of $3.07 billion, a P/E ratio of 29.85 and a beta of 0.54.

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.