New Gold Inc. (NYSE:NGD) Stock Holdings Trimmed by Van ECK Associates Corp

Van ECK Associates Corp lessened its position in shares of New Gold Inc. (NYSE:NGD) by 12.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 64,703,137 shares of the company’s stock after selling 9,181,494 shares during the quarter. Van ECK Associates Corp owned about 0.08% of New Gold worth $160,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Allworth Financial LP grew its holdings in shares of New Gold by 941.8% during the third quarter. Allworth Financial LP now owns 10,418 shares of the company’s stock valued at $30,000 after purchasing an additional 9,418 shares during the last quarter. DGS Capital Management LLC acquired a new position in New Gold during the 4th quarter worth $30,000. Eastern Bank acquired a new stake in New Gold in the third quarter worth about $33,000. NorthCrest Asset Manangement LLC bought a new position in shares of New Gold in the third quarter valued at approximately $58,000. Finally, Kohmann Bosshard Financial Services LLC lifted its position in New Gold by 34.6% in the third quarter. Kohmann Bosshard Financial Services LLC now owns 35,000 shares of the company’s stock worth $101,000 after purchasing an additional 9,000 shares during the period. Institutional investors own 42.82% of the company’s stock.

New Gold Price Performance

Shares of NYSE:NGD opened at $3.00 on Thursday. The stock has a fifty day moving average of $2.76 and a 200-day moving average of $2.71. The company has a market capitalization of $2.37 billion, a PE ratio of 150.00 and a beta of 1.36. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.42. New Gold Inc. has a one year low of $1.09 and a one year high of $3.25.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised New Gold from a “hold” rating to a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $3.41.

New Gold 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.