D. E. Shaw & Co. Inc. Has $12.13 Million Holdings in New Gold Inc. (NYSE:NGD)

D. E. Shaw & Co. Inc. trimmed its stake in New Gold Inc. (NYSE:NGD) by 34.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,882,121 shares of the company’s stock after selling 2,615,096 shares during the period. D. E. Shaw & Co. Inc. owned about 0.62% of New Gold worth $12,130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NGD. Allspring Global Investments Holdings LLC grew its position in 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 buying an additional 4,500 shares in the last quarter. Oxbow Advisors LLC grew its holdings in shares of New Gold by 1.7% during the 4th quarter. Oxbow Advisors LLC now owns 277,000 shares of the company’s stock worth $687,000 after purchasing an additional 4,624 shares in the last quarter. Bank of New York Mellon Corp grew 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 worth $125,000 after purchasing an additional 5,331 shares in the last quarter. Swiss National Bank increased its position in shares of New Gold by 0.6% during the fourth quarter. Swiss National Bank now owns 1,566,862 shares of the company’s stock valued at $3,911,000 after purchasing an additional 9,500 shares during the period. Finally, TD Waterhouse Canada Inc. raised its stake in shares of New Gold by 11.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 92,967 shares of the company’s stock valued at $230,000 after purchasing an additional 9,668 shares in the last quarter. Institutional investors own 42.82% of the company’s stock.

New Gold Price Performance

New Gold stock opened at $3.88 on Wednesday. The business’s fifty day moving average is $3.48 and its two-hundred day moving average is $3.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. The firm has a market cap of $3.07 billion, a P/E ratio of 29.85 and a beta of 0.54. New Gold Inc. has a 52 week low of $1.74 and a 52 week high of $4.21.

Analysts Set New Price Targets

NGD has been the topic of several analyst reports. CIBC boosted their price target on shares of New Gold from $3.40 to $4.75 and gave the company an “outperformer” rating in a report on Thursday, May 8th. Scotiabank reissued an “outperform” rating on shares of New Gold in a research note on Monday, April 14th. National Bankshares reissued an “outperform” rating on shares of New Gold in a research report on Wednesday, April 2nd. Bank of America upgraded New Gold from an “underperform” rating to a “buy” rating and upped their price objective for the company from $2.60 to $3.90 in a research note on Wednesday, March 26th. Finally, New Street Research set a $3.90 target price on New Gold in a research report on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $4.04.

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.