New Gold (TSE:NGD) Stock Crosses Above 50-Day Moving Average – What’s Next?

New Gold Inc. (TSE:NGD) (ARCA:NGD) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty 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.

Wall Street Analysts Forecast Growth

NGD has been the topic of several research reports. Bank of America raised New Gold from an “underperform” rating to a “buy” rating and boosted their target price for the stock from C$3.65 to C$5.45 in a research note on Wednesday, March 26th. National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, New Gold currently has a consensus rating of “Buy” and an average price target of C$4.34.

New Gold Trading Down 14.6 %

The business’s 50-day moving average is C$4.40 and its two-hundred day moving average is C$4.08. The stock has a market capitalization of C$2.35 billion, a PE ratio of 116.85, a PEG ratio of -3.02 and a beta of 1.59. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12.

Insider Activity at New Gold

In related news, Senior Officer Keith Murphy sold 41,863 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of C$4.29, for a total value of C$179,592.27. 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.