New Gold (TSE:NGD) Shares Pass Above Fifty Day Moving Average – Should You Sell?

New Gold Inc. (TSE:NGD) (ARCA:NGD) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$4.38 and traded as high as C$5.29. New Gold shares last traded at C$5.20, with a volume of 1,665,485 shares trading hands.

Analyst Ratings Changes

Several research firms have commented on NGD. Bank of America raised shares of 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 research report on Wednesday, March 26th. National Bank Financial raised shares of New Gold to a “strong-buy” rating in a report on Friday, March 21st. One research 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 stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$4.34.

New Gold Price Performance

The stock’s 50 day simple moving average is C$4.38 and its 200-day simple moving average is C$4.06. The company has a debt-to-equity ratio of 45.12, a quick ratio of 1.64 and a current ratio of 1.42. The firm has a market cap of C$2.86 billion, a price-to-earnings ratio of 142.30, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59.

Insider Buying and Selling

In other New Gold news, Senior Officer Keith Murphy sold 41,863 shares of New Gold stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of C$4.29, for a total transaction of C$179,592.27. 4.92% of the stock is currently owned by company 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.