D. E. Shaw & Co. Inc. Has $12.13 Million Position in New Gold Inc. (NYSE:NGD)

D. E. Shaw & Co. Inc. decreased its position in shares of New Gold Inc. (NYSE:NGD) by 34.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,882,121 shares of the company’s stock after selling 2,615,096 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in New Gold were worth $12,130,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. SIH Partners LLLP bought a new position in New Gold in the fourth quarter valued at about $27,000. Tudor Investment Corp ET AL bought a new position in shares of New Gold in the 4th quarter valued at about $27,000. DGS Capital Management LLC bought a new position in shares of New Gold in the 4th quarter valued at about $30,000. Samalin Investment Counsel LLC acquired a new stake in shares of New Gold during the 4th quarter worth approximately $32,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of New Gold during the fourth quarter worth approximately $39,000. 42.82% of the stock is currently owned by institutional investors.

New Gold Price Performance

NGD 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 stock has a 50-day moving average price of $3.48 and a two-hundred 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 current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

Analyst Upgrades and Downgrades

NGD has been the subject of a number of analyst reports. Bank of America raised shares of New Gold from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $2.60 to $3.90 in a report on Wednesday, March 26th. National Bankshares reaffirmed an “outperform” rating on shares of New Gold in a research note on Wednesday, April 2nd. Raymond James set a $4.00 target price on New Gold and gave the company a “market perform” rating in a research note on Friday, April 4th. StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, CIBC increased their target price on shares of New Gold from $3.40 to $4.75 and gave the stock an “outperformer” rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, New Gold currently has a consensus rating of “Buy” and an average target price of $4.04.

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.