New Found Gold Corp. (CVE:NFG – Get Free Report)’s share price dropped 26.2% during mid-day trading on Tuesday . The stock traded as low as C$1.55 and last traded at C$1.66. Approximately 5,280,875 shares were traded during mid-day trading, an increase of 934% from the average daily volume of 510,845 shares. The stock had previously closed at C$2.25.
New Found Gold Trading Up 11.6 %
The firm has a 50 day moving average of C$2.48 and a two-hundred day moving average of C$2.78. The company has a market cap of C$333.68 million, a PE ratio of -5.79 and a beta of 0.56.
Insiders Place Their Bets
In other news, Director Keith Boyle bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average cost of C$1.52 per share, for a total transaction of C$37,875.00. Insiders own 44.06% of the company’s stock.
New Found Gold Company Profile
New Found Gold Corp., a mineral exploration company, engages in the identification, evaluation, acquisition, and exploration of mineral properties in the Provinces of Newfoundland and Labrador, and Ontario. It primarily explores for gold deposit. The company holds 100% interests in the Queensway project that includes 96 mineral licenses and 6,659 claims covering an area of 166,475 hectares of land located near Gander, Newfoundland.
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