New Gold Inc. (NYSE:NGD) Shares Bought by Oxbow Advisors LLC

Oxbow Advisors LLC grew its holdings in shares of New Gold Inc. (NYSE:NGD) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 277,000 shares of the company’s stock after acquiring an additional 4,624 shares during the period. Oxbow Advisors LLC’s holdings in New Gold were worth $687,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NGD. Allspring Global Investments Holdings LLC grew its stake in shares of New Gold by 684.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,466,500 shares of the company’s stock valued at $4,255,000 after acquiring an additional 1,279,500 shares in the last quarter. Eastern Bank acquired a new position in New Gold in the third quarter worth about $33,000. Allworth Financial LP grew its stake in New Gold by 941.8% in the third quarter. Allworth Financial LP now owns 10,418 shares of the company’s stock worth $30,000 after purchasing an additional 9,418 shares in the last quarter. NorthCrest Asset Manangement LLC acquired a new position in New Gold in the third quarter worth about $58,000. Finally, Van ECK Associates Corp grew its stake in New Gold by 5.0% in the third 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. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Stock Performance

Shares of NYSE NGD opened at $2.82 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $2.77 and its two-hundred day moving average price is $2.75. New Gold Inc. has a 52-week low of $1.10 and a 52-week high of $3.25. The stock has a market capitalization of $2.23 billion, a P/E ratio of 21.69 and a beta of 1.36.

Analysts Set New Price Targets

A number of research firms recently commented on NGD. StockNews.com upgraded New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Scotiabank lifted their price target on New Gold from $3.50 to $4.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.