New Gold (TSE:NGD) Stock Price Passes Above Fifty Day Moving Average – Time to Sell?

New Gold Inc. (TSE:NGD) (ARCA:NGD) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$3.63 and traded as high as C$3.97. New Gold shares last traded at C$3.91, with a volume of 1,242,041 shares traded.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Cibc World Mkts upgraded New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. Canaccord Genuity Group upped their price objective on New Gold from C$4.00 to C$4.50 and gave the company a “buy” rating in a research note on Thursday, August 22nd. National Bankshares upped their price objective on New Gold from C$4.00 to C$4.25 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets upped their price objective on New Gold from C$4.25 to C$4.50 in a research note on Wednesday, July 31st. One analyst has rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, New Gold presently has a consensus rating of “Buy” and a consensus target price of C$3.71.

New Gold Stock Performance

The company has a market cap of C$3.09 billion, a P/E ratio of -97.75, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The company has a quick ratio of 1.64, a current ratio of 1.50 and a debt-to-equity ratio of 52.45. The stock has a 50 day moving average price of C$3.63 and a two-hundred day moving average price of C$3.04.

New Gold (TSE:NGD) (ARCA:NGD) last announced its earnings results on Tuesday, July 30th. The company reported C$0.03 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.02 by C$0.01. The company had revenue of C$298.55 million for the quarter. New Gold had a negative return on equity of 2.23% and a negative net margin of 2.53%.

Insider Buying and Selling

In related news, Senior Officer Sean William Keating sold 45,833 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$4.17, for a total transaction of C$191,123.61. 4.92% of the stock is currently owned by company insiders.

New Gold Company 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.