New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD's stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$5.67 and traded as high as C$6.75. New Gold shares last traded at C$6.61, with a volume of 1,749,146 shares changing hands.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a research note on Friday, March 21st. Bank of America upgraded New Gold from an "underperform" rating to a "buy" rating and increased their price objective for the company from C$3.65 to C$5.45 in a research report on Wednesday, March 26th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$4.68.
Read Our Latest Stock Report on New Gold
New Gold Stock Down 0.9%
The business's fifty day simple moving average is C$5.67 and its 200 day simple moving average is C$4.70. The stock has a market cap of C$3.64 billion, a price-to-earnings ratio of 180.89, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The company has a current ratio of 1.42, a quick ratio of 1.64 and a debt-to-equity ratio of 45.12.
Insider Activity at New Gold
In other news, Senior Officer Ankit Shah sold 42,699 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of C$5.67, for a total value of C$242,103.33. Also, Senior Officer Sean William Keating sold 49,048 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of C$5.40, for a total transaction of C$264,859.20. Insiders have sold 116,747 shares of company stock worth $663,463 in the last ninety days. Company insiders own 4.92% of the company's stock.
New Gold Company Profile
(
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New Gold Inc is an intermediate gold mining company. The company has a portfolio of two producing assets: Rainy River Mine and New Afton Mine in Canada. Also, it has interests in the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of Gold, Copper, and Silver.
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