New Gold (TSE:NGD) Stock Crosses Above 50 Day Moving Average – Here’s Why

New Gold Inc. (TSE:NGD) (ARCA:NGD) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$3.87 and traded as high as C$4.16. New Gold shares last traded at C$4.15, with a volume of 924,184 shares traded.

New Gold Trading Up 2.7 %

The firm has a market capitalization of C$3.28 billion, a P/E ratio of -103.75, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The stock’s 50-day simple moving average is C$3.87 and its two-hundred day simple moving average is C$3.67. The company has a debt-to-equity ratio of 52.45, a current ratio of 1.50 and a quick ratio of 1.64.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings results on Tuesday, October 29th. The company reported C$0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.05. New Gold had a negative return on equity of 2.23% and a negative net margin of 2.53%. During the same period last year, the firm posted $0.04 earnings per share.

Insider Buying and Selling

In other news, Senior Officer Yohann Bouchard sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of C$4.25, for a total value of C$425,000.00. 4.92% of the stock is currently owned by company insiders.

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.