Intact Investment Management Inc. Has $3.81 Million Stock Holdings in New Gold Inc. (NYSE:NGD)

Intact Investment Management Inc. trimmed its stake in shares of New Gold Inc. (NYSE:NGD) by 46.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,030,000 shares of the company’s stock after selling 900,600 shares during the quarter. Intact Investment Management Inc.’s holdings in New Gold were worth $3,808,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SIH Partners LLLP acquired a new position in New Gold during the 4th quarter worth approximately $27,000. Tudor Investment Corp ET AL acquired a new position in New Gold in the 4th quarter valued at approximately $27,000. Samalin Investment Counsel LLC acquired a new position in New Gold in the 4th quarter valued at approximately $32,000. Schonfeld Strategic Advisors LLC acquired a new position in New Gold in the 4th quarter valued at approximately $39,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in New Gold in the 4th quarter valued at approximately $43,000. 42.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NGD has been the subject of several recent research reports. Wall Street Zen upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a research report on Friday, March 21st. New Street Research set a $3.90 price target on shares of New Gold in a research report on Wednesday, March 26th. Raymond James Financial set a $4.00 price target on shares of New Gold and gave the company a “market perform” rating in a research report on Friday, April 4th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of New Gold in a research note on Monday, April 14th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, New Gold presently has an average rating of “Buy” and an average price target of $4.13.

New Gold Trading Up 0.2%

NYSE:NGD opened at $4.83 on Friday. The firm’s fifty day moving average is $4.17 and its 200-day moving average is $3.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. New Gold Inc. has a 52 week low of $1.91 and a 52 week high of $4.98. The firm has a market cap of $3.82 billion, a P/E ratio of 37.16 and a beta of 0.44.

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.