Baader Bank Aktiengesellschaft Makes New $206,000 Investment in New Gold Inc. (NYSE:NGD)

Baader Bank Aktiengesellschaft acquired a new position in New Gold Inc. (NYSE:NGD) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 55,615 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors have also added to or reduced their stakes in NGD. SIH Partners LLLP bought a new position in shares of New Gold in the 4th quarter worth about $27,000. Tudor Investment Corp ET AL bought a new position in shares of New Gold in the 4th quarter worth about $27,000. Schonfeld Strategic Advisors LLC bought a new position in shares of New Gold in the 4th quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of New Gold in the 4th quarter worth about $43,000. Finally, Nwam LLC bought a new position in shares of New Gold in the 1st quarter worth about $45,000. 42.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NGD. Scotiabank reissued an “outperform” rating on shares of New Gold in a research report on Monday, April 14th. Raymond James Financial raised shares of New Gold to a “hold” rating and set a $4.00 price objective on the stock in a research report on Monday, June 30th. Wall Street Zen raised shares of New Gold from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. CIBC increased their price objective on shares of New Gold from $5.50 to $6.25 and gave the company an “outperformer” rating in a research report on Tuesday, July 15th. Finally, National Bankshares reissued an “outperform” rating on shares of New Gold in a research report on Tuesday, June 24th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, New Gold currently has an average rating of “Buy” and an average price target of $4.38.

New Gold Stock Performance

NGD opened at $4.19 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 company has a market cap of $3.32 billion, a price-to-earnings ratio of 32.23 and a beta of 0.45. The company’s 50 day moving average is $4.65 and its 200 day moving average is $3.75. New Gold Inc. has a 12-month low of $1.94 and a 12-month high of $5.16.

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.