New Gold (TSE:NGD) Share Price Passes Above 50 Day Moving Average of $0.98

Shares of New Gold Inc. (TSE:NGDGet Rating) (ARCA:NGD) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$0.98 and traded as high as C$1.20. New Gold shares last traded at C$1.16, with a volume of 1,284,224 shares traded.

Analyst Ratings Changes

A number of analysts have recently weighed in on NGD shares. BMO Capital Markets decreased their price target on shares of New Gold from C$3.00 to C$2.00 in a research report on Wednesday, July 13th. Cormark decreased their price objective on shares of New Gold from C$2.25 to C$1.00 and set a “sector perform” rating for the company in a report on Wednesday, July 13th. CSFB decreased their price objective on shares of New Gold from C$1.40 to C$1.10 in a report on Tuesday, July 12th. National Bankshares decreased their price objective on shares of New Gold from C$1.50 to C$1.20 and set a “sector perform” rating for the company in a report on Thursday, July 21st. Finally, Credit Suisse Group decreased their price objective on shares of New Gold from C$1.40 to C$1.10 in a report on Tuesday, July 12th.

New Gold Trading Down 6.8 %

The company has a market cap of C$743.71 million and a price-to-earnings ratio of 6.16. The company has a debt-to-equity ratio of 41.04, a current ratio of 2.81 and a quick ratio of 2.08. The firm’s fifty day moving average price is C$0.98 and its 200-day moving average price is C$1.55.

New Gold (TSE:NGDGet Rating) (ARCA:NGD) last announced its quarterly earnings results on Thursday, August 4th. The company reported C($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of C($0.03). The firm had revenue of C$147.68 million for the quarter. On average, equities analysts expect that New Gold Inc. will post 0.16 EPS for the current fiscal year.

Insider Activity at New Gold

In related news, Director Renaud Adams acquired 47,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were acquired at an average cost of C$1.03 per share, for a total transaction of C$48,410.00. Following the completion of the purchase, the director now directly owns 1,084,348 shares in the company, valued at C$1,116,878.44. In related news, Senior Officer Robert Joseph Chausse acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were acquired at an average cost of C$1.01 per share, for a total transaction of C$101,000.00. Following the completion of the purchase, the insider now directly owns 703,803 shares in the company, valued at C$710,841.03. Also, Director Renaud Adams acquired 47,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were bought at an average price of C$1.03 per share, for a total transaction of C$48,410.00. Following the completion of the purchase, the director now owns 1,084,348 shares of the company’s stock, valued at C$1,116,878.44. Insiders have purchased a total of 355,000 shares of company stock worth $338,560 over the last ninety days.

About New Gold

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New Gold Inc, an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River mine located in Ontario, Canada; and New Afton mine situated in British Columbia, Canada.

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