New Gold (TSE:NGD) Stock Passes Below Fifty Day Moving Average – Here’s What Happened

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$3.84 and traded as low as C$3.46. New Gold shares last traded at C$3.53, with a volume of 1,688,383 shares.

Analyst Upgrades and Downgrades

NGD has been the topic of several analyst reports. Canaccord Genuity Group raised their price objective on New Gold from C$4.00 to C$4.50 and gave the stock a “buy” rating in a report on Thursday, August 22nd. National Bankshares raised their price objective on New Gold from C$4.00 to C$4.25 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, BMO Capital Markets raised their price objective on New Gold from C$4.25 to C$4.50 in a report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, four have given 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 an average target price of C$3.71.

New Gold Stock Down 7.6 %

The company has a current ratio of 1.50, a quick ratio of 1.64 and a debt-to-equity ratio of 52.45. The firm has a market capitalization of C$2.79 billion, a PE ratio of -88.25, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The firm has a 50-day moving average of C$3.84 and a two-hundred day moving average of C$3.22.

Insider Buying and Selling at New Gold

In other New Gold news, Senior Officer Sean William Keating sold 45,833 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$4.17, for a total value of C$191,123.61. 4.92% of the stock is currently owned by corporate insiders.

New Gold Company Profile

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company’s principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.