U S Global Investors Inc. Sells 286,782 Shares of New Gold Inc. (NYSE:NGD)

U S Global Investors Inc. decreased its stake in shares of New Gold Inc. (NYSE:NGD) by 11.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,226,244 shares of the company’s stock after selling 286,782 shares during the quarter. New Gold accounts for about 0.5% of U S Global Investors Inc.’s holdings, making the stock its 26th biggest position. U S Global Investors Inc.’s holdings in New Gold were worth $5,521,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NGD. Van ECK Associates Corp boosted its stake in New Gold by 5.0% in the 3rd quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company’s stock worth $215,743,000 after purchasing an additional 3,541,882 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of New Gold by 9,360.7% during the third quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company’s stock valued at $7,755,000 after buying an additional 2,664,153 shares during the last quarter. ArrowMark Colorado Holdings LLC bought a new stake in shares of New Gold during the third quarter valued at approximately $4,787,000. Lord Abbett & CO. LLC purchased a new position in New Gold in the 3rd quarter worth approximately $4,435,000. Finally, JGP Global Gestao de Recursos Ltda. lifted its position in New Gold by 27.8% in the 4th quarter. JGP Global Gestao de Recursos Ltda. now owns 6,500,000 shares of the company’s stock valued at $16,120,000 after acquiring an additional 1,412,003 shares in the last quarter. 42.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. CIBC dropped their price target on shares of New Gold from $3.60 to $3.40 and set an “outperform” rating on the stock in a report on Thursday. Scotiabank boosted their price objective on New Gold from $3.50 to $4.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $3.60.

New Gold Price Performance

Shares of NGD opened at $2.70 on Friday. The stock has a market capitalization of $2.14 billion, a PE ratio of 20.77 and a beta of 1.36. New Gold Inc. has a fifty-two week low of $1.12 and a fifty-two week high of $3.25. 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 company has a 50 day moving average price of $2.78 and a 200-day moving average price of $2.77.

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.