New Found Gold (CVE:NFG) Shares Up 12.8% After Insider Buying Activity

New Found Gold Corp. (CVE:NFG)’s stock price traded up 12.8% on Friday following insider buying activity. The stock traded as high as C$1.92 and last traded at C$1.85. 1,628,702 shares were traded during mid-day trading, an increase of 171% from the average session volume of 601,077 shares. The stock had previously closed at C$1.64.

Specifically, Director Keith Boyle purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average price of C$1.52 per share, for a total transaction of C$37,875.00.

New Found Gold Price Performance

The firm’s 50 day moving average price is C$2.46 and its 200-day moving average price is C$2.77. The stock has a market cap of C$372.34 million, a P/E ratio of -6.46 and a beta of 0.56.

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.