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Banque Cantonale Vaudoise reduced its stake in New Gold Inc. ( NYSE:NGD – Free Report ) by 25.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 33,298 shares of the company’s stock after selling 11,412 shares during the quarter. Banque Cantonale Vaudoise’s holdings in New Gold were worth $97,000 at the end of the most recent quarter. A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its holdings in shares of New Gold by 2.2% in the 3rd quarter. CIBC Asset Management Inc now owns 2,105,546 shares of the company’s stock worth $6,105,000 after buying an additional 44,571 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of New Gold in the 3rd quarter worth about $226,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of New Gold by 12.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 265,441 shares of the company’s stock worth $764,000 after buying an additional 30,366 shares during the last quarter. Old West Investment Management LLC boosted its holdings in shares of New Gold by 42.9% in the 3rd quarter. Old West Investment Management LLC now owns 1,000,000 shares of the company’s stock worth $2,880,000 after buying an additional 300,000 shares during the last quarter. Finally, Intact Investment Management Inc. boosted its holdings in shares of New Gold by 9.4% in the 3rd quarter. Intact Investment Management Inc. now owns 2,329,400 shares of the company’s stock worth $6,752,000 after buying an additional 200,000 shares during the last quarter. 42.82% of the stock is owned by hedge funds and other institutional investors. Wall Street Analyst Weigh In A number of equities analysts recently weighed in on NGD shares. Scotiabank boosted their price target on shares of New Gold from $2.75 to $3.25 and gave the stock a “sector outperform” rating in a report on Tuesday, September 17th. Royal Bank of Canada boosted their price objective on New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, StockNews.com upgraded New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $3.08. New Gold Trading Down 1.6 % Shares of NGD opened at $2.84 on Friday. The business’s 50-day moving average price is $2.86 and its 200-day moving average price is $2.42. New Gold Inc. has a twelve month low of $1.09 and a twelve month high of $3.25. The stock has a market cap of $2.24 billion, a PE ratio of 141.75 and a beta of 1.31. The company has a quick ratio of 0.84, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. New Gold ( NYSE:NGD – Get Free Report ) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.04. New Gold had a return on equity of 9.38% and a net margin of 2.33%. The firm had revenue of $252.00 million for the quarter. On average, equities analysts forecast that New Gold Inc. will post 0.17 EPS for the current fiscal year. New Gold Profile ( Free Report ) 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. Recommended Stories Want to see what other hedge funds are holding NGD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Gold Inc. ( NYSE:NGD – Free Report ). Receive News & Ratings for New Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Gold and related companies with MarketBeat.com's FREE daily email newsletter .