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

New Gold Inc. (TSE:NGD) (ARCA:NGD) fell 5% during trading on Thursday after an insider sold shares in the company. The stock traded as low as C$4.16 and last traded at C$4.16. 343,239 shares were traded during mid-day trading, a decline of 76% from the average session 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 stock was sold at an average price of C$4.25, for a total transaction of C$425,000.00.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their price target on shares of New Gold from C$4.00 to C$4.50 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$3.71.

New Gold Price Performance

The company has a market capitalization of C$3.22 billion, a price-to-earnings ratio of -102.00, a P/E/G ratio of -3.02 and a beta of 1.59. 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’s fifty day moving average price is C$3.91 and its 200-day moving average price 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.