New Gold (TSE:NGD) Stock Price Down 5% on Insider Selling

New Gold Inc. (TSE:NGD) (ARCA:NGD) shares dropped 5% during mid-day trading 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 mid-day 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 stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of C$4.25, for a total value of C$425,000.00.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their price objective on shares of New Gold from C$4.00 to C$4.50 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One investment 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. According to MarketBeat.com, the company presently has a consensus 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 quick ratio of 1.64 and a current ratio of 1.50. The stock has a market capitalization of C$3.11 billion, a price-to-earnings ratio of -98.25, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The business’s 50 day simple moving average is C$3.90 and its 200-day simple moving average is C$3.43.

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.