Canagold Resources (TSE:CCM) Shares Pass Above 50-Day Moving Average – What’s Next?

Canagold Resources Ltd. (TSE:CCM) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$0.52 and traded as high as C$0.57. Canagold Resources shares last traded at C$0.57, with a volume of 20,164 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Atrium Research raised shares of Canagold Resources to a “strong-buy” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Canagold Resources Stock Performance

The firm has a market cap of C$110.56 million, a price-to-earnings ratio of -57.00 and a beta of 0.59. The company has a current ratio of 2.34, a quick ratio of 0.61 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average is C$0.52 and its 200 day moving average is C$0.48.

Canagold Resources (TSE:CCM) last issued its quarterly earnings data on Friday, November 14th. The mining company reported C$0.00 earnings per share (EPS) for the quarter.

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.