83,904 Shares in New Gold Inc. (NYSE:NGD) Bought by Aigen Investment Management LP

Aigen Investment Management LP bought a new position in New Gold Inc. (NYSE:NGD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 83,904 shares of the company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NGD. DGS Capital Management LLC acquired a new position in New Gold in the fourth quarter worth approximately $30,000. Atria Wealth Solutions Inc. bought a new stake in New Gold in the fourth quarter worth approximately $87,000. Kohmann Bosshard Financial Services LLC increased its stake in shares of New Gold by 42.9% during the 4th quarter. Kohmann Bosshard Financial Services LLC now owns 50,000 shares of the company’s stock worth $124,000 after purchasing an additional 15,000 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of New Gold by 11.9% during the 4th quarter. Bank of New York Mellon Corp now owns 50,292 shares of the company’s stock valued at $125,000 after purchasing an additional 5,331 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings 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 owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Scotiabank raised their target price on New Gold from $3.50 to $4.00 and gave the company a “sector outperform” rating in a report 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 report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $3.60.

New Gold Price Performance

NYSE NGD opened at $2.90 on Monday. The stock has a 50-day simple moving average of $2.81 and a 200 day simple moving average of $2.78. New Gold Inc. has a twelve month low of $1.47 and a twelve month high of $3.25. The stock has a market capitalization of $2.29 billion, a PE ratio of 22.31 and a beta of 1.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39.

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.