Triasima Portfolio Management inc. Has $1.54 Million Stock Position in New Gold Inc. (NYSE:NGD)

Triasima Portfolio Management inc. reduced its holdings in shares of New Gold Inc. (NYSE:NGD) by 5.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 616,517 shares of the company’s stock after selling 36,884 shares during the quarter. Triasima Portfolio Management inc. owned approximately 0.08% of New Gold worth $1,539,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Van ECK Associates Corp grew its stake in shares of New Gold by 5.0% during the 3rd quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company’s stock worth $215,743,000 after acquiring an additional 3,541,882 shares in the last quarter. JGP Global Gestao de Recursos Ltda. grew its stake in shares of New Gold by 27.8% during the 4th quarter. JGP Global Gestao de Recursos Ltda. now owns 6,500,000 shares of the company’s stock worth $16,120,000 after acquiring an additional 1,412,003 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of New Gold by 18.7% during the 3rd quarter. Two Sigma Advisers LP now owns 4,322,930 shares of the company’s stock worth $12,450,000 after acquiring an additional 681,822 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of New Gold by 9,360.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company’s stock worth $7,755,000 after acquiring an additional 2,664,153 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of New Gold by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,394,885 shares of the company’s stock worth $4,670,000 after acquiring an additional 200,799 shares in the last quarter. 42.82% of the stock is owned by institutional investors.

New Gold Trading Down 3.9 %

NGD stock opened at $2.99 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84. The company has a fifty day moving average price of $2.75 and a two-hundred day moving average price of $2.68. New Gold Inc. has a one year low of $1.09 and a one year high of $3.25. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 27.45 and a beta of 1.36.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, New Gold has a consensus rating of “Buy” and a consensus price target of $3.41.

About New Gold

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.