Generali Investments CEE investicni spolecnost a.s. Purchases Shares of 30,000 New Gold Inc. (NYSE:NGD)

Generali Investments CEE investicni spolecnost a.s. purchased a new stake in New Gold Inc. (NYSE:NGD) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 30,000 shares of the company’s stock, valued at approximately $74,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of New Gold in the 4th quarter worth $107,000. Raymond James Financial Inc. purchased a new position in shares of New Gold in the 4th quarter worth $1,918,000. Aigen Investment Management LP purchased a new position in shares of New Gold in the 4th quarter worth $208,000. Kohmann Bosshard Financial Services LLC grew its stake in shares of New Gold by 42.9% in the 4th quarter. Kohmann Bosshard Financial Services LLC now owns 50,000 shares of the company’s stock worth $124,000 after buying an additional 15,000 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of New Gold by 11.9% in the 4th quarter. Bank of New York Mellon Corp now owns 50,292 shares of the company’s stock worth $125,000 after buying an additional 5,331 shares in the last quarter. 42.82% of the stock is currently owned by institutional investors.

New Gold Price Performance

Shares of NGD stock opened at $2.90 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. The company has a market capitalization of $2.29 billion, a P/E ratio of 22.31 and a beta of 1.35. The company’s 50-day simple moving average is $2.81 and its two-hundred day simple moving average is $2.78. New Gold Inc. has a one year low of $1.47 and a one year high of $3.25.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. CIBC dropped their price objective on shares of New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Scotiabank lifted their price objective on shares of New Gold from $3.50 to $4.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $3.60.

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.