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

Shares of Canagold Resources Ltd. (TSE:CCM) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$0.54 and traded as high as C$0.56. Canagold Resources shares last traded at C$0.56, with a volume of 22,504 shares.

Analysts Set New Price Targets

Separately, Atrium Research raised 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, Based on data from MarketBeat, the company presently has an average rating of “Strong Buy”.

Canagold Resources Stock Performance

The stock has a market cap of C$108.62 million, a price-to-earnings ratio of -56.00 and a beta of 0.59. The company has a current ratio of 2.34, a quick ratio of 0.61 and a debt-to-equity ratio of 0.54. The firm has a fifty day simple moving average of C$0.54 and a 200-day simple moving average of C$0.49.

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.