New Gold (TSE:NGD) Stock Crosses Above 50 Day Moving Average – Time to Sell?

New Gold Inc. (TSE:NGD) (ARCA:NGD) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$14.55 and traded as high as C$17.98. New Gold shares last traded at C$17.95, with a volume of 2,851,202 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, TD Securities upgraded shares of New Gold from a “hold” rating to a “buy” rating and increased their price objective for the company from C$7.50 to C$12.00 in a research note on Monday, December 1st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$10.61.

New Gold Price Performance

The company has a market cap of C$14.50 billion, a PE ratio of 57.25, a price-to-earnings-growth ratio of -3.02 and a beta of 1.95. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12. The firm has a 50 day simple moving average of C$14.67 and a 200-day simple moving average of C$11.34.

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.