Canagold Resources (TSE:CCM) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Shares of Canagold Resources Ltd. (TSE:CCM) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$0.45 and traded as high as C$0.52. Canagold Resources shares last traded at C$0.51, with a volume of 16,675 shares trading hands.

Analysts Set New Price Targets

Separately, Atrium Research raised Canagold Resources to a “strong-buy” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock has a consensus rating of “Strong Buy”.

Canagold Resources Price Performance

The firm has a market cap of C$110.56 million, a price-to-earnings ratio of -57.00 and a beta of 0.48. The stock’s fifty day moving average price is C$0.45 and its 200-day moving average price is C$0.45. The company has a current ratio of 2.34, a quick ratio of 0.61 and a debt-to-equity ratio of 0.54.

Canagold Resources (TSE:CCM) last issued its quarterly earnings data on Friday, November 14th. The mining company reported C$0.00 earnings per share 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.