New Gold Inc. $NGD Shares Sold by Heartland Advisors Inc.

Heartland Advisors Inc. reduced its position in New Gold Inc. (NYSE:NGD) by 50.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,000,000 shares of the company’s stock after selling 1,000,000 shares during the quarter. Heartland Advisors Inc.’s holdings in New Gold were worth $7,180,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NGD. Millennium Management LLC grew its holdings in shares of New Gold by 91.1% in the first quarter. Millennium Management LLC now owns 1,792,631 shares of the company’s stock valued at $6,642,000 after purchasing an additional 854,586 shares in the last quarter. NewEdge Advisors LLC boosted its position in New Gold by 99.1% in the 1st quarter. NewEdge Advisors LLC now owns 80,375 shares of the company’s stock valued at $298,000 after buying an additional 40,000 shares during the period. Goldman Sachs Group Inc. boosted its position in New Gold by 74.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,448,313 shares of the company’s stock valued at $23,923,000 after buying an additional 2,760,692 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of New Gold by 4.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 951,651 shares of the company’s stock worth $3,531,000 after acquiring an additional 40,995 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of New Gold by 17.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 83,525 shares of the company’s stock valued at $413,000 after acquiring an additional 12,425 shares in the last quarter. Institutional investors and hedge funds own 42.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on NGD. TD Securities raised New Gold from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Monday, December 1st. Scotiabank boosted their price objective on New Gold to $12.75 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Zacks Research upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, National Bank Financial reiterated an “outperform” rating on shares of New Gold in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.18.

New Gold Price Performance

Shares of NYSE NGD opened at $11.06 on Tuesday. The stock’s 50-day simple moving average is $10.00 and its 200-day simple moving average is $7.77. The firm has a market capitalization of $8.76 billion, a PE ratio of 85.08 and a beta of 0.59. New Gold Inc. has a fifty-two week low of $2.60 and a fifty-two week high of $13.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39.

New Gold Company Profile

New Gold Inc is a Canadian-based intermediate precious metals producer focused on the exploration, development and operation of gold and copper mining assets. The company was formed in 2008 through the merger of two exploration firms and has since grown into a multi-asset mining platform. Headquartered in Toronto, New Gold emphasizes a disciplined approach to capital allocation and operational execution, with a commitment to environmental stewardship and strong community relations.

New Gold’s principal producing assets include the New Afton Mine in British Columbia and the Rainy River Mine in northwestern Ontario.