Brookfield Asset Management Inc. Sold 9,151 Shares of New Gold Inc. (NGD)

Brookfield Asset Management Inc. Sold 9,151 Shares of New Gold Inc. (NGD)

Brookfield Asset Management Inc. lowered its stake in New Gold Inc. (NYSE:NGD) by 2.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 363,581 shares of the company’s stock after selling 9,151 shares during the period. Brookfield Asset Management Inc. owned approximately 0.07% of New Gold worth $1,274,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of New Gold during the fourth quarter valued at about $156,000. AQR Capital Management LLC boosted its stake in shares of New Gold by 35.7% in the fourth quarter. AQR Capital Management LLC now owns 47,752 shares of the company’s stock valued at $168,000 after buying an additional 12,572 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of New Gold by 13.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 48,063 shares of the company’s stock valued at $169,000 after buying an additional 5,600 shares during the period. Scotia Capital Inc. boosted its stake in shares of New Gold by 30.8% in the fourth quarter. Scotia Capital Inc. now owns 49,626 shares of the company’s stock valued at $174,000 after buying an additional 11,690 shares during the period. Finally, Comerica Bank boosted its stake in shares of New Gold by 8.5% in the fourth quarter. Comerica Bank now owns 59,815 shares of the company’s stock valued at $243,000 after buying an additional 4,707 shares during the period.

Shares of New Gold Inc. (NYSE:NGD) opened at 2.98 on Friday. The company’s 50-day moving average price is $2.93 and its 200 day moving average price is $3.62. The stock has a market cap of $1.53 billion and a price-to-earnings ratio of 596.00. New Gold Inc. has a 12-month low of $2.39 and a 12-month high of $6.04.

NGD has been the topic of several recent research reports. TD Securities reaffirmed a “buy” rating on shares of New Gold in a report on Tuesday, March 14th. Desjardins initiated coverage on New Gold in a report on Monday, March 13th. They set a “buy” rating on the stock. GMP Securities cut New Gold from a “buy” rating to a “hold” rating and set a $4.80 price objective on the stock. in a report on Tuesday, January 31st. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed a “hold” rating on shares of New Gold in a report on Thursday, February 2nd. Finally, Zacks Investment Research raised New Gold from a “sell” rating to a “hold” rating in a report on Friday, February 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $3.90.

New Gold Company Profile

New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.

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