Canagold Resources (TSE:CCM) Stock Passes Above 50-Day Moving Average – Should You Sell?

Canagold Resources Ltd. (TSE:CCM)’s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 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.

Wall Street Analysts Forecast Growth

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

Canagold Resources Stock Down 1.7%

The company has a debt-to-equity ratio of 0.54, a current ratio of 2.34 and a quick ratio of 0.61. The business has a fifty day moving average of C$0.52 and a 200-day moving average of C$0.48. The stock has a market cap of C$110.56 million, a PE ratio of -57.00 and a beta of 0.59.

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.