New Gold Inc. (NYSEAMERICAN:NGD) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in New Gold Inc. (NYSEAMERICAN:NGD) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,886,569 shares of the basic materials company’s stock after acquiring an additional 1,775,882 shares during the period. Van ECK Associates Corp owned 9.74% of New Gold worth $97,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. HC Advisors LLC lifted its holdings in New Gold by 13.4% in the 4th quarter. HC Advisors LLC now owns 214,559 shares of the basic materials company’s stock valued at $313,000 after purchasing an additional 25,300 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of New Gold by 1.0% during the 3rd quarter. American Century Companies Inc. now owns 5,095,417 shares of the basic materials company’s stock worth $4,669,000 after purchasing an additional 48,886 shares during the period. Ingalls & Snyder LLC boosted its holdings in shares of New Gold by 116.6% during the fourth quarter. Ingalls & Snyder LLC now owns 123,842 shares of the basic materials company’s stock worth $181,000 after purchasing an additional 66,667 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of New Gold in the third quarter valued at $61,000. Finally, Independent Family Office LLC acquired a new position in New Gold in the fourth quarter valued at $123,000. 42.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NGD shares. StockNews.com downgraded shares of New Gold from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Scotiabank increased their target price on New Gold from $1.65 to $2.00 and gave the stock a “sector perform” rating in a research report on Monday, April 8th. Finally, National Bank Financial reissued a “sector perform spec overwgt” rating on shares of New Gold in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, New Gold presently has an average rating of “Hold” and an average target price of $1.64.

New Gold Price Performance

Shares of NYSEAMERICAN:NGD traded down $0.08 during trading on Tuesday, reaching $1.75. 2,549,219 shares of the company’s stock traded hands, compared to its average volume of 6,269,358. The company has a market cap of $1.21 billion, a PE ratio of 26.00, a P/E/G ratio of 0.57 and a beta of 1.54. New Gold Inc. has a 12 month low of $0.86 and a 12 month high of $1.94. The company has a quick ratio of 0.98, a current ratio of 1.54 and a debt-to-equity ratio of 0.51.

New Gold (NYSEAMERICAN:NGD) last posted its earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The company had revenue of $199.20 million during the quarter. New Gold had a negative net margin of 8.20% and a positive return on equity of 5.63%. On average, sell-side analysts anticipate that New Gold Inc. will post 0.09 EPS for the current year.

New Gold Company 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.