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

New Gold Inc. (TSE:NGD) (ARCA:NGD) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$6.92 and traded as high as C$9.10. New Gold shares last traded at C$8.79, with a volume of 2,587,303 shares traded.

Analysts Set New Price Targets

Several analysts have issued reports on NGD shares. National Bankshares upped their target price on New Gold from C$8.00 to C$9.50 and gave the company an “outperform” rating in a report on Tuesday. Raymond James Financial upgraded New Gold to a “hold” rating in a report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$7.48.

New Gold Trading Down 2.3%

The company has a current ratio of 1.42, a quick ratio of 1.64 and a debt-to-equity ratio of 45.12. The company has a fifty day simple moving average of C$6.92 and a 200-day simple moving average of C$5.88. The company has a market capitalization of C$6.96 billion, a PE ratio of 43.95, a PEG ratio of -3.02 and a beta of 1.21.

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.