Shares of New Found Gold Corp. (CVE:NFG – Get Free Report) dropped 29.3% on Wednesday . The stock traded as low as C$1.55 and last traded at C$1.59. Approximately 6,227,355 shares traded hands during mid-day trading, an increase of 1,074% from the average daily volume of 530,354 shares. The stock had previously closed at C$2.25.
New Found Gold Price Performance
The business’s 50-day moving average price is C$2.46 and its 200-day moving average price is C$2.77. The firm has a market capitalization of C$333.68 million, a PE ratio of -5.79 and a beta of 0.56.
Insider Buying and Selling
In related news, Director Keith Boyle acquired 25,000 shares of New Found Gold stock in a transaction on Thursday, March 27th. The stock was purchased at an average cost of C$1.52 per share, with a total value of C$37,875.00. 44.06% of the stock is owned by company insiders.
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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