Insider Selling: New Gold Inc. (TSE:NGD) Senior Officer Sells 42,699 Shares of Stock

New Gold Inc. (TSE:NGD) (ARCA:NGD) Senior Officer Ankit Shah sold 42,699 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of C$5.67, for a total transaction of C$242,103.33.

New Gold Stock Down 2.8%

Shares of NGD opened at C$5.24 on Thursday. New Gold Inc. has a 12 month low of C$2.46 and a 12 month high of C$5.83. The firm’s 50 day moving average is C$4.93 and its 200-day moving average is C$4.29. The stock has a market capitalization of C$2.88 billion, a PE ratio of 143.40, a P/E/G 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.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NGD shares. National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a research report on Friday, March 21st. Bank of America upgraded shares of New Gold from an “underperform” rating to a “buy” rating and raised their price objective for the stock from C$3.65 to C$5.45 in a research report on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$4.34.

New Gold Company Profile

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.