New Gold (TSE:NGD) Trading Down 5% After Insider Selling

New Gold Inc. (TSE:NGD) (ARCA:NGD) was down 5% on Thursday following insider selling activity. The company traded as low as C$4.16 and last traded at C$4.16. Approximately 343,239 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 1,424,819 shares. The stock had previously closed at C$4.38.

Specifically, Senior Officer Yohann Bouchard sold 100,000 shares of New Gold stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of C$4.25, for a total transaction of C$425,000.00.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their target price on New Gold from C$4.00 to C$4.50 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, New Gold has an average rating of “Buy” and an average price target of C$3.71.

New Gold Stock Performance

The company has a debt-to-equity ratio of 52.45, a current ratio of 1.50 and a quick ratio of 1.64. The company has a market cap of C$3.30 billion, a PE ratio of -109.50, a PEG ratio of -3.02 and a beta of 1.59. The stock has a 50 day simple moving average of C$3.91 and a two-hundred day simple moving average of C$3.42.

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.