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 fifty day moving average during trading on Thursday . The stock has a fifty 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 lifted their price objective on New Gold from C$4.00 to C$4.50 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, New Gold has a consensus rating of “Buy” and a consensus price target of C$3.71.

New Gold Stock Performance

The firm has a market cap of C$2.83 billion, a PE ratio of -89.50, a P/E/G ratio of -3.02 and a beta of 1.59. The stock has a 50-day moving average price of C$3.89 and a 200 day moving average price of C$3.45. The company has a debt-to-equity ratio of 52.45, a current ratio of 1.50 and a quick ratio of 1.64.

Insider Buying and Selling at New Gold

In other news, Senior Officer Yohann Bouchard sold 100,000 shares of the 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. 4.92% of the stock is 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.