Canagold Resources (TSE:CCM) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Canagold Resources Ltd. (TSE:CCM)’s share price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$0.59 and traded as low as C$0.51. Canagold Resources shares last traded at C$0.52, with a volume of 27,230 shares trading hands.

Analysts Set New Price Targets

Separately, Atrium Research raised Canagold Resources to a “strong-buy” rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Strong Buy”.

Canagold Resources Price Performance

The firm has a market capitalization of C$110.95 million, a price-to-earnings ratio of -52.00 and a beta of 0.45. The company’s 50 day moving average is C$0.59 and its 200 day moving average is C$0.51. The company has a quick ratio of 0.61, a current ratio of 2.19 and a debt-to-equity ratio of 0.33.

Canagold Resources Company Profile

Canagold owns a portfolio of Gold and Silver projects located in North America. The company’s flagship asset is New Polaris – an advanced and past-producing, high-grade gold project in northern British Columbia, Canada. The company has a fully funded work program underway at New Polaris, and is currently advancing the project to feasibility status. CanaGold is managed by an experienced team with a strong track record of exploration, development and finance.