Aigen Investment Management LP Makes New Investment in New Gold Inc. (NYSE:NGD)

Aigen Investment Management LP acquired a new stake in shares of New Gold Inc. (NYSE:NGD) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 83,904 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also modified their holdings of the company. DGS Capital Management LLC acquired a new stake in New Gold during the fourth quarter worth $30,000. Atria Wealth Solutions Inc. acquired a new position in shares of New Gold in the 4th quarter valued at $87,000. Kohmann Bosshard Financial Services LLC lifted its holdings 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 acquiring an additional 15,000 shares during the period. Bank of New York Mellon Corp boosted its position 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 acquiring an additional 5,331 shares in the last quarter. Finally, Captrust Financial Advisors increased 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 valued at $129,000 after acquiring an additional 6,700 shares during the period. 42.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NGD has been the subject of a number of analyst reports. CIBC cut their price target on shares of New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Scotiabank raised their target price on New Gold from $3.50 to $4.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $3.60.

New Gold Price Performance

NYSE:NGD opened at $2.90 on Monday. 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 firm has a market cap of $2.29 billion, a PE ratio of 22.31 and a beta of 1.35. New Gold Inc. has a 12 month low of $1.47 and a 12 month high of $3.25. The company’s 50-day moving average price is $2.81 and its two-hundred day moving average price is $2.78.

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.