43,042 Shares in New Gold Inc. (NYSE:NGD) Bought by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich bought a new position in New Gold Inc. (NYSE:NGD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 43,042 shares of the company’s stock, valued at approximately $107,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in New Gold by 0.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,471,000 shares of the company’s stock worth $3,669,000 after purchasing an additional 4,500 shares in the last quarter. Oxbow Advisors LLC increased its holdings in New Gold by 1.7% in 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 increased its holdings in New Gold by 11.9% in 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. Captrust Financial Advisors increased its stake in shares of 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 buying an additional 6,700 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of New Gold by 2.0% in the third quarter. Geode Capital Management LLC now owns 372,373 shares of the company’s stock valued at $1,084,000 after buying an additional 7,394 shares during the period. Institutional investors and hedge funds own 42.82% of the company’s stock.

New Gold Stock Up 7.5 %

Shares of New Gold stock opened at $3.00 on Wednesday. New Gold Inc. has a one year low of $1.52 and a one year high of $3.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. The stock’s 50-day moving average is $2.82 and its 200 day moving average is $2.78. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 23.08 and a beta of 1.35.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NGD. CIBC decreased their price target on 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 increased their price target 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 investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $3.60.

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.