New Gold (TSE:NGD) Stock Price Crosses Above 50-Day Moving Average - Time to Sell?

New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD's stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$5.40 and traded as high as C$6.72. New Gold shares last traded at C$6.53, with a volume of 1,794,676 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NGD shares. National Bank Financial raised shares of New Gold to a "strong-buy" rating in a research report on Friday, March 21st. Bank of America upgraded New Gold from an "underperform" rating to a "buy" rating and increased their price target for the company from C$3.65 to C$5.45 in a report on Wednesday, March 26th. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of C$4.68.

New Gold Price Performance

The business's 50 day moving average price is C$5.54 and its 200-day moving average price is C$4.63. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12. The company has a market cap of C$3.69 billion, a PE ratio of 183.35, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59.

Insider Activity

In other New Gold news, Senior Officer Ankit Shah sold 42,699 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of C$5.67, for a total transaction of C$242,103.33. Also, Senior Officer Sean William Keating sold 49,048 shares of New Gold stock in a transaction dated Monday, May 5th. The stock was sold at an average price of C$5.40, for a total value of C$264,859.20. Insiders sold 116,747 shares of company stock worth $663,463 over the last ninety days. Corporate insiders own 4.92% of the company's stock.

About New Gold

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.