New Gold (TSE:NGD) Stock Price Crosses Above 50 Day Moving Average - Should You Sell?

New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD's stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$3.87 and traded as high as C$3.90. New Gold shares last traded at C$3.89, with a volume of 1,214,800 shares.

Analysts Set New Price Targets

NGD has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their price target on shares of New Gold from C$4.00 to C$4.50 and gave the stock a "buy" rating in a research note on Thursday, August 22nd. BMO Capital Markets upped their price objective on New Gold from C$4.25 to C$4.50 in a research note on Wednesday, July 31st. Finally, National Bankshares upped their price objective on shares of New Gold from C$4.00 to C$4.25 and gave the stock an "outperform" rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of C$3.71.

New Gold Trading Up 0.3 %

The stock's 50 day moving average is C$3.87 and its two-hundred day moving average is C$3.26. The company has a quick ratio of 1.64, a current ratio of 1.50 and a debt-to-equity ratio of 52.45. The company has a market capitalization of C$3.08 billion, a PE ratio of -97.25, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59.

Insiders Place Their Bets

In related news, Senior Officer Sean William Keating sold 45,833 shares of the business's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$4.17, for a total value of C$191,123.61. 4.92% of the stock is owned by insiders.

About New Gold

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.