New Found Gold Corp. (CVE:NFG – Get Free Report)’s stock price dropped 26.2% during mid-day trading on Tuesday . The company traded as low as C$1.55 and last traded at C$1.66. Approximately 5,280,875 shares changed hands during 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 Stock Performance
The stock has a market cap of C$323.51 million, a price-to-earnings ratio of -5.61 and a beta of 0.56. The business’s 50 day moving average is C$2.52 and its 200-day moving average is C$2.80.
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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