New Gold Inc. (NYSE:NGD) Stake Decreased by HC Advisors LLC

HC Advisors LLC lessened its holdings in shares of New Gold Inc. (NYSE:NGD) by 80.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,800 shares of the company’s stock after selling 141,061 shares during the quarter. HC Advisors LLC’s holdings in New Gold were worth $84,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NGD. Allworth Financial LP raised its holdings in shares of New Gold by 941.8% during the third quarter. Allworth Financial LP now owns 10,418 shares of the company’s stock valued at $30,000 after buying an additional 9,418 shares during the last quarter. DGS Capital Management LLC bought a new stake in New Gold during the fourth quarter worth approximately $30,000. Atria Wealth Solutions Inc. bought a new stake in New Gold during the fourth quarter worth approximately $87,000. Bank of New York Mellon Corp raised its holdings in New Gold by 11.9% during the fourth 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. Finally, Captrust Financial Advisors raised its holdings in New Gold by 17.6% during 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. Institutional investors own 42.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on NGD shares. Scotiabank boosted their target price on New Gold from $3.50 to $4.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. CIBC dropped their target price on New Gold from $3.60 to $3.40 and set an “outperform” rating on the stock in a report on Thursday. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $3.60.

New Gold Price Performance

NYSE NGD opened at $2.70 on Friday. The stock has a market capitalization of $2.14 billion, a P/E ratio of 20.77 and a beta of 1.36. New Gold Inc. has a 1 year low of $1.12 and a 1 year high of $3.25. The business’s fifty day moving average is $2.78 and its two-hundred day moving average is $2.77. 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.