Canagold Resources (TSE:CCM) Shares Pass Above 50 Day Moving Average – Time to Sell?

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

Analyst Ratings Changes

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

Canagold Resources Trading Up 5.3%

The business’s 50-day simple moving average is C$0.52 and its 200-day simple moving average is C$0.48. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.61 and a current ratio of 2.34. The company has a market capitalization of C$116.38 million, a price-to-earnings ratio of -60.00 and a beta of 0.59.

Canagold Resources (TSE:CCM) last posted its quarterly earnings results on Friday, November 14th. The mining company reported C$0.00 earnings per share for the quarter.

About Canagold Resources

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.