Heartland Advisors Inc. Purchases 148,450 Shares of New Gold Inc. (NYSE:NGD)

Heartland Advisors Inc. boosted its position in shares of New Gold Inc. (NYSE:NGD) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,840,650 shares of the company’s stock after acquiring an additional 148,450 shares during the quarter. Heartland Advisors Inc.’s holdings in New Gold were worth $12,005,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of New Gold by 3.9% in the 4th quarter. American Century Companies Inc. now owns 12,250,758 shares of the company’s stock valued at $30,577,000 after purchasing an additional 459,317 shares during the period. Hillsdale Investment Management Inc. increased its position in New Gold by 97.1% during 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 during the last quarter. JGP Global Gestao de Recursos Ltda. raised its stake in New Gold by 27.8% in the fourth quarter. JGP Global Gestao de Recursos Ltda. now owns 6,500,000 shares of the company’s stock valued at $16,120,000 after buying an additional 1,412,003 shares during the period. Amundi lifted its position in shares of New Gold by 68.6% in the fourth quarter. Amundi now owns 5,877,726 shares of the company’s stock valued at $16,105,000 after buying an additional 2,391,764 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of New Gold by 18.7% during the 3rd quarter. Two Sigma Advisers LP now owns 4,322,930 shares of the company’s stock worth $12,450,000 after acquiring an additional 681,822 shares during the period. Institutional investors and hedge funds own 42.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. CIBC dropped their price target on New Gold from $3.60 to $3.40 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Bank of America raised shares of New Gold from an “underperform” rating to a “buy” rating and increased their price objective for the company from $2.60 to $3.90 in a research report on Wednesday. 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 research note on Thursday, February 13th. Finally, National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, New Gold presently has a consensus rating of “Buy” and an average price target of $3.66.

New Gold Stock Up 4.3 %

Shares of NGD opened at $3.62 on Friday. 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 stock has a market capitalization of $2.86 billion, a PE ratio of 27.85 and a beta of 1.35. The firm’s 50 day moving average is $2.99 and its 200-day moving average is $2.85. New Gold Inc. has a 12 month low of $1.66 and a 12 month high of $3.64.

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.