New Gold (TSE:NGD) Trading Down 4.5% - Should You Sell?

New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD's share price dropped 4.5% on Tuesday . The company traded as low as C$4.82 and last traded at C$4.86. Approximately 1,624,942 shares traded hands during trading, a decline of 10% from the average daily volume of 1,806,369 shares. The stock had previously closed at C$5.09.

Analysts Set New Price Targets

A number of research firms have commented on NGD. 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 raised their price target for the stock from C$3.65 to C$5.45 in a research note on Wednesday, March 26th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of C$4.34.

New Gold Stock Down 2.5 %

The company's 50-day simple moving average is C$4.58 and its two-hundred day simple moving average is C$4.16. The firm has a market capitalization of C$2.59 billion, a P/E ratio of 128.62, a P/E/G ratio of -3.02 and a beta of 1.59. The company has a debt-to-equity ratio of 45.12, a current ratio of 1.42 and a quick ratio of 1.64.

Insider Buying and Selling

In other New Gold news, Senior Officer Keith Murphy sold 41,863 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of C$4.29, for a total transaction of C$179,592.27. 4.92% of the stock is owned by insiders.

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.