New Gold (TSE:NGD) Trading Down 5% After Insider Selling

New Gold Inc. (TSE:NGD) (ARCA:NGD) dropped 5% on Thursday following insider selling activity. The stock traded as low as C$4.16 and last traded at C$4.16. Approximately 343,239 shares changed hands during trading, a decline of 76% from the average daily volume of 1,424,819 shares. The stock had previously closed at C$4.38.

Specifically, Senior Officer Yohann Bouchard sold 100,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of C$4.25, for a total transaction of C$425,000.00.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted their price objective on New Gold from C$4.00 to C$4.50 and gave the company a “buy” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$3.71.

New Gold Price Performance

The company has a debt-to-equity ratio of 52.45, a current ratio of 1.50 and a quick ratio of 1.64. The firm has a market capitalization of C$3.22 billion, a price-to-earnings ratio of -102.00, a PEG ratio of -3.02 and a beta of 1.59. The business’s fifty day simple moving average is C$3.91 and its 200 day simple moving average is C$3.42.

New Gold Company Profile

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.