Samalin Investment Counsel LLC Takes Position in New Gold Inc. (NYSE:NGD)

Samalin Investment Counsel LLC bought a new position in New Gold Inc. (NYSE:NGD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,000 shares of the company’s stock, valued at approximately $32,000.

Several other hedge funds also recently bought and sold shares of the company. Hillsdale Investment Management Inc. raised its position in shares of New Gold by 97.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company’s stock worth $23,657,000 after buying an additional 4,671,399 shares in the last quarter. BNP Paribas Financial Markets lifted its position in New Gold by 9,360.7% during the third quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company’s stock valued at $7,755,000 after purchasing an additional 2,664,153 shares during the last quarter. Amundi grew its position in New Gold by 68.6% in the fourth quarter. Amundi now owns 5,877,726 shares of the company’s stock worth $16,105,000 after acquiring an additional 2,391,764 shares in the last quarter. ArrowMark Colorado Holdings LLC purchased a new position in shares of New Gold in the 3rd quarter worth about $4,787,000. Finally, Lord Abbett & CO. LLC purchased a new stake in New Gold in the third quarter worth approximately $4,435,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

Wall Street Analysts Forecast Growth

NGD has been the topic of a number of analyst reports. CIBC decreased their target price on shares of New Gold from $3.60 to $3.40 and set an “outperform” rating on the stock in a research 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 report on Thursday, February 13th. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $3.60.

New Gold Stock Down 3.3 %

Shares of NYSE NGD opened at $3.22 on Monday. New Gold Inc. has a 12 month low of $1.56 and a 12 month high of $3.48. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The firm has a fifty day simple moving average of $2.93 and a two-hundred day simple moving average of $2.83. The firm has a market capitalization of $2.55 billion, a PE ratio of 24.77 and a beta of 1.35.

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.