Kohmann Bosshard Financial Services LLC Trims Holdings in New Gold Inc. (NYSE:NGD)

Kohmann Bosshard Financial Services LLC decreased its stake in shares of New Gold Inc. (NYSE:NGD) by 18.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 41,000 shares of the company’s stock after selling 9,000 shares during the quarter. Kohmann Bosshard Financial Services LLC’s holdings in New Gold were worth $152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SIH Partners LLLP acquired a new stake in New Gold during the fourth quarter worth $27,000. Tudor Investment Corp ET AL acquired a new stake in New Gold during the fourth quarter worth $27,000. Cary Street Partners Financial LLC acquired a new stake in New Gold during the first quarter worth $37,000. Schonfeld Strategic Advisors LLC acquired a new stake in New Gold during the fourth quarter worth $39,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in New Gold during the fourth quarter worth $43,000. Institutional investors and hedge funds own 42.82% of the company’s stock.

Analysts Set New Price Targets

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

New Gold Trading Up 1.5%

NGD opened at $4.88 on Monday. New Gold Inc. has a 12 month low of $2.12 and a 12 month high of $5.16. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 37.54 and a beta of 0.38. 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 business has a fifty day moving average price of $4.68 and a 200 day moving average price of $3.84.

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.