New Gold Inc. $NGD Shares Sold by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. decreased its holdings in shares of New Gold Inc. (NYSE:NGD) by 29.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 585,660 shares of the company’s stock after selling 248,000 shares during the period. PCJ Investment Counsel Ltd.’s holdings in New Gold were worth $4,195,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of NGD. Van ECK Associates Corp grew its holdings in shares of New Gold by 50.7% during the third quarter. Van ECK Associates Corp now owns 72,796,146 shares of the company’s stock valued at $522,678,000 after purchasing an additional 24,495,669 shares during the last quarter. BW Gestao de Investimentos Ltda. acquired a new position in New Gold during the 3rd quarter valued at approximately $6,318,000. Legal & General Group Plc boosted its position in New Gold by 22.6% during the 3rd quarter. Legal & General Group Plc now owns 2,063,536 shares of the company’s stock valued at $14,786,000 after purchasing an additional 380,037 shares during the period. Swiss National Bank grew its stake in New Gold by 1.6% during the 3rd quarter. Swiss National Bank now owns 1,547,462 shares of the company’s stock worth $11,091,000 after buying an additional 24,900 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in New Gold by 56.9% in the third quarter. Russell Investments Group Ltd. now owns 743,452 shares of the company’s stock worth $5,331,000 after buying an additional 269,596 shares during the period. Institutional investors own 42.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NGD. TD Securities upgraded shares of New Gold from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Monday, December 1st. 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, 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, New Gold presently has a consensus rating of “Buy” and an average target price of $8.18.

New Gold Price Performance

Shares of NYSE NGD opened at $11.52 on Wednesday. The stock has a market cap of $9.12 billion, a P/E ratio of 88.62 and a beta of 0.56. The firm’s 50-day simple moving average is $11.06 and its 200 day simple moving average is $8.56. New Gold Inc. has a fifty-two week low of $2.84 and a fifty-two week high of $13.63. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

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.