Plato Investment Management Ltd Has $115,000 Stock Holdings in New Gold Inc. (NYSE:NGD)

Plato Investment Management Ltd decreased its stake in New Gold Inc. (NYSE:NGD) by 41.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,816 shares of the company’s stock after selling 31,950 shares during the period. Plato Investment Management Ltd’s holdings in New Gold were worth $115,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NGD. DGS Capital Management LLC bought a new position in shares of New Gold in the 4th quarter valued at $30,000. Atria Wealth Solutions Inc. acquired a new position in New Gold in the 4th quarter worth about $87,000. Kohmann Bosshard Financial Services LLC increased its holdings in New Gold by 42.9% in the 4th quarter. Kohmann Bosshard Financial Services LLC now owns 50,000 shares of the company’s stock worth $124,000 after purchasing an additional 15,000 shares in the last quarter. Bank of New York Mellon Corp raised its position in New Gold by 11.9% in the fourth quarter. Bank of New York Mellon Corp now owns 50,292 shares of the company’s stock valued at $125,000 after purchasing an additional 5,331 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of New Gold by 17.6% during the third quarter. Captrust Financial Advisors now owns 44,700 shares of the company’s stock valued at $129,000 after purchasing an additional 6,700 shares in the last quarter. Institutional investors and hedge funds own 42.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. CIBC dropped their price objective on shares of New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a report on Thursday, February 27th. Scotiabank upped their price target on shares of New Gold from $3.50 to $4.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $3.60.

New Gold Stock Performance

Shares of NGD stock opened at $2.68 on Wednesday. The stock has a market capitalization of $2.12 billion, a PE ratio of 20.62 and a beta of 1.36. The business’s 50 day simple moving average is $2.79 and its 200 day simple moving average is $2.78. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. New Gold Inc. has a one year low of $1.40 and a one year high of $3.25.

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.