American Century Companies Inc. Grows Stock Holdings in New Gold Inc. (NYSE:NGD)

American Century Companies Inc. grew its position in New Gold Inc. (NYSE:NGD) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,250,758 shares of the company’s stock after buying an additional 459,317 shares during the quarter. American Century Companies Inc. owned 1.55% of New Gold worth $30,577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP grew its position in New Gold by 29.6% in the 4th quarter. Quantbot Technologies LP now owns 513,402 shares of the company’s stock valued at $1,273,000 after acquiring an additional 117,317 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its stake in shares of New Gold by 75.4% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 424,134 shares of the company’s stock valued at $1,057,000 after purchasing an additional 182,256 shares during the period. Swiss National Bank grew its holdings in shares of New Gold by 0.6% in the fourth quarter. Swiss National Bank now owns 1,566,862 shares of the company’s stock valued at $3,911,000 after purchasing an additional 9,500 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in New Gold during the 4th quarter worth approximately $103,000. Finally, Ruffer LLP acquired a new stake in shares of New Gold in the fourth quarter valued at $2,976,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NGD. Bank of America upgraded shares of New Gold from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $2.60 to $3.90 in a research note on Wednesday. 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 report on Thursday, February 13th. National Bank Financial raised New Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, CIBC decreased their price target on New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $3.66.

New Gold Price Performance

Shares of NYSE:NGD opened at $3.60 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. New Gold Inc. has a 12 month low of $1.66 and a 12 month high of $3.78. The firm has a market capitalization of $2.85 billion, a P/E ratio of 27.69 and a beta of 1.35. The company’s fifty day moving average price is $3.01 and its 200 day moving average price is $2.86.

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.