New Gold (TSE:NGD) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$5.87 and traded as high as C$6.74. New Gold shares last traded at C$6.74, with a volume of 1,294,860 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NGD. National Bank Financial upgraded New Gold to a “strong-buy” rating in a report on Friday, March 21st. Bank of America raised shares of New Gold from an “underperform” rating to a “buy” rating and lifted their target price for the stock 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$4.68.

New Gold Price Performance

The company has a market cap of C$3.71 billion, a PE ratio of 184.45, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The stock has a fifty day moving average price of C$5.87 and a 200-day moving average price of C$4.80. 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 Activity at New Gold

In related news, Senior Officer Sean William Keating sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of C$6.26, for a total transaction of C$156,500.00. Also, Senior Officer Ankit Shah sold 42,699 shares of the business’s stock in a transaction that occurred 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. Over the last ninety days, insiders have sold 116,747 shares of company stock valued at $663,463. Company 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.