New Found Gold (CVE:NFG) Trading Down 29.3% – What’s Next?

New Found Gold Corp. (CVE:NFG) shares fell 29.3% during trading on Tuesday . The stock traded as low as C$1.55 and last traded at C$1.59. 6,227,355 shares traded hands during mid-day trading, an increase of 1,074% from the average session volume of 530,354 shares. The stock had previously closed at C$2.25.

New Found Gold Price Performance

The firm has a market cap of C$333.68 million, a price-to-earnings ratio of -5.79 and a beta of 0.56. The stock’s fifty day moving average price is C$2.48 and its 200-day moving average price is C$2.78.

Insider Activity

In other news, Director Keith Boyle acquired 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average cost of C$1.52 per share, for a total transaction of C$37,875.00. 44.06% of the stock is owned by corporate insiders.

About New Found Gold

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.