New Gold (TSE:NGD) Share Price Passes Above Fifty Day Moving Average – Time to Sell?

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$15.23 and traded as high as C$15.35. New Gold shares last traded at C$15.02, with a volume of 1,419,321 shares changing hands.

Analysts Set New Price Targets

Separately, TD Securities upgraded New Gold from a “hold” rating to a “buy” rating and upped their price target for the company from C$7.50 to C$12.00 in a research report on Monday, December 1st. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$10.61.

New Gold Stock Down 4.1%

The company has a market cap of C$11.89 billion, a PE ratio of 46.94, a P/E/G ratio of -3.02 and a beta of 1.93. The stock has a 50-day moving average of C$15.23 and a 200-day moving average of C$11.85. The company has a quick ratio of 1.64, a current ratio of 0.88 and a debt-to-equity ratio of 32.06.

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.