New Gold (TSE:NGD) Stock Passes Below Fifty Day Moving Average – What’s Next?

New Gold Inc. (TSE:NGD) (ARCA:NGD) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$3.89 and traded as low as C$3.56. New Gold shares last traded at C$3.58, with a volume of 1,288,989 shares changing hands.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their target price on shares of 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 analyst has rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$3.71.

New Gold Stock Performance

The stock’s 50 day moving average price is C$3.89 and its two-hundred day moving average price is C$3.45. The company has a current ratio of 1.50, a quick ratio of 1.64 and a debt-to-equity ratio of 52.45. The firm has a market capitalization of C$2.83 billion, a price-to-earnings ratio of -89.50, a PEG ratio of -3.02 and a beta of 1.59.

Insider Buying and Selling

In other New Gold news, Senior Officer Yohann Bouchard sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of C$4.25, for a total transaction of C$425,000.00. Insiders own 4.92% of the company’s stock.

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.