New Gold Inc. (NYSE:NGD) Shares Bought by Nokomis Capital L.L.C.

Nokomis Capital L.L.C. raised its holdings in shares of New Gold Inc. (NYSE:NGD) by 203.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,147,296 shares of the company’s stock after purchasing an additional 2,782,296 shares during the period. New Gold accounts for approximately 3.7% of Nokomis Capital L.L.C.’s investment portfolio, making the stock its 8th biggest holding. Nokomis Capital L.L.C.’s holdings in New Gold were worth $10,285,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NGD. Renaissance Technologies LLC grew its stake in New Gold by 11.6% during the 4th quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company’s stock worth $62,363,000 after buying an additional 2,619,782 shares during the last quarter. Invesco Ltd. boosted its holdings in New Gold by 3.6% in the fourth quarter. Invesco Ltd. now owns 13,481,005 shares of the company’s stock worth $33,433,000 after acquiring an additional 469,748 shares in the last quarter. American Century Companies Inc. boosted its holdings in New Gold by 3.9% in the fourth quarter. American Century Companies Inc. now owns 12,250,758 shares of the company’s stock worth $30,577,000 after acquiring an additional 459,317 shares in the last quarter. Bank of Montreal Can grew its stake in shares of New Gold by 36.9% during the fourth quarter. Bank of Montreal Can now owns 9,703,381 shares of the company’s stock worth $24,203,000 after acquiring an additional 2,613,285 shares during the last quarter. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of New Gold by 97.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company’s stock valued at $23,657,000 after acquiring an additional 4,671,399 shares in the last quarter. 42.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on NGD shares. Raymond James set a $4.00 price objective on shares of New Gold and gave the company a “market perform” rating in a research report on Friday, April 4th. New Street Research set a $3.90 price target on shares of New Gold in a report on Wednesday, March 26th. StockNews.com raised shares of New Gold from a “hold” rating to a “buy” rating in a report on Friday, May 9th. National Bankshares reissued an “outperform” rating on shares of New Gold in a research report on Wednesday, April 2nd. Finally, CIBC lifted their price target on New Gold from $3.40 to $4.75 and gave the stock an “outperformer” rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $4.04.

New Gold Trading Up 1.8%

Shares of New Gold stock opened at $3.88 on Wednesday. The stock has a market cap of $3.07 billion, a PE ratio of 29.85 and a beta of 0.54. The firm has a fifty day moving average price of $3.48 and a 200 day moving average price of $3.02. New Gold Inc. has a 1 year low of $1.74 and a 1 year high of $4.21. 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 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.