Virtu Financial LLC Sells 221,110 Shares of New Gold Inc. (NYSE:NGD)

Virtu Financial LLC reduced its stake in New Gold Inc. (NYSE:NGD) by 67.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,660 shares of the company’s stock after selling 221,110 shares during the period. Virtu Financial LLC’s holdings in New Gold were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of NGD. Quantbot Technologies LP grew its holdings in shares of New Gold by 29.6% during the fourth quarter. Quantbot Technologies LP now owns 513,402 shares of the company’s stock worth $1,273,000 after purchasing an additional 117,317 shares during the last quarter. Northwest & Ethical Investments L.P. increased its stake in New Gold by 75.4% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 424,134 shares of the company’s stock valued at $1,057,000 after purchasing an additional 182,256 shares in the last quarter. Swiss National Bank increased its holdings in New Gold by 0.6% during the 4th quarter. Swiss National Bank now owns 1,566,862 shares of the company’s stock worth $3,911,000 after purchasing an additional 9,500 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of New Gold during the 4th quarter worth approximately $103,000. Finally, Ruffer LLP purchased a new position in New Gold in the fourth quarter worth $2,976,000. Institutional investors own 42.82% of the company’s stock.

New Gold Stock Performance

NYSE:NGD opened at $3.60 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 50-day moving average price of $3.01 and a 200 day moving average price of $2.86. New Gold Inc. has a 12-month low of $1.66 and a 12-month high of $3.78. The stock has a market capitalization of $2.85 billion, a P/E ratio of 27.69 and a beta of 1.35.

Analysts Set New Price Targets

NGD has been the topic of a number of recent research reports. CIBC dropped their price target on shares of 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 lifted their price objective for the stock from $2.60 to $3.90 in a report on Wednesday. National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Scotiabank increased their target price on New Gold from $3.50 to $4.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $3.66.

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.