Shares of New Found Gold Corp. (CVE:NFG – Get Free Report) were down 29.8% on Tuesday . The company traded as low as C$1.55 and last traded at C$1.58. Approximately 3,547,956 shares traded hands during mid-day trading, an increase of 653% from the average daily volume of 470,954 shares. The stock had previously closed at C$2.25.
New Found Gold Stock Performance
The firm has a market capitalization of C$333.68 million, a PE ratio of -5.79 and a beta of 0.56. The stock’s 50-day simple moving average is C$2.48 and its 200-day simple moving average is C$2.78.
Insider Transactions at New Found Gold
In other news, Director Keith Boyle bought 25,000 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were acquired 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 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.
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