New Found Gold (CVE:NFG) Stock Price Down 8.8% – Here’s What Happened

Shares of New Found Gold Corp. (CVE:NFG) dropped 8.8% during mid-day trading on Wednesday . The stock traded as low as C$1.45 and last traded at C$1.45. Approximately 1,111,383 shares changed hands during trading, an increase of 107% from the average daily volume of 537,916 shares. The stock had previously closed at C$1.59.

New Found Gold Stock Up 11.6 %

The stock has a 50-day simple moving average of C$2.46 and a 200 day simple moving average of C$2.77. The company has a market cap of C$333.68 million, a PE ratio of -5.79 and a beta of 0.56.

Insider Buying and Selling

In other news, Director Keith Boyle acquired 25,000 shares of New Found Gold stock in a transaction dated Thursday, March 27th. The shares were 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 currently 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.