Exor Investments UK LLP lifted its stake in shares of New Gold Inc (NYSEAMERICAN:NGD) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,036,695 shares of the basic materials company’s stock after purchasing an additional 2,318,698 shares during the quarter. New Gold comprises about 4.1% of Exor Investments UK LLP’s investment portfolio, making the stock its 6th largest holding. Exor Investments UK LLP’s holdings in New Gold were worth $14,407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Signition LP bought a new stake in New Gold in the fourth quarter worth about $66,000. Mackenzie Financial Corp bought a new stake in New Gold in the third quarter worth about $103,000. Clean Yield Group raised its position in New Gold by 166.7% in the fourth quarter. Clean Yield Group now owns 160,000 shares of the basic materials company’s stock worth $121,000 after acquiring an additional 100,000 shares in the last quarter. Brave Asset Management Inc. raised its position in New Gold by 201.6% in the third quarter. Brave Asset Management Inc. now owns 190,000 shares of the basic materials company’s stock worth $151,000 after acquiring an additional 127,000 shares in the last quarter. Finally, CIBC World Markets Inc. raised its position in New Gold by 44.9% in the third quarter. CIBC World Markets Inc. now owns 464,290 shares of the basic materials company’s stock worth $368,000 after acquiring an additional 143,955 shares in the last quarter. Institutional investors and hedge funds own 51.53% of the company’s stock.

NGD opened at $1.16 on Monday. New Gold Inc has a twelve month low of $0.69 and a twelve month high of $2.92.

NGD has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised New Gold from an “underweight” rating to a “neutral” rating in a research note on Tuesday, January 8th. Royal Bank of Canada lifted their price target on New Gold from $1.00 to $1.25 and gave the stock an “underperform” rating in a research note on Thursday, January 10th. TD Securities lifted their price target on New Gold from $1.05 to $1.15 and gave the stock a “hold” rating in a research note on Thursday, January 10th. National Bank Financial reissued a “hold” rating on shares of New Gold in a research note on Monday, November 12th. Finally, BMO Capital Markets reissued a “hold” rating on shares of New Gold in a research note on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $1.75.

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About New Gold

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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Institutional Ownership by Quarter for New Gold (NYSEAMERICAN:NGD)

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