New Found Gold Corp. (CVE:NFG – Get Free Report) shares fell 29.3% during mid-day trading on Wednesday . The company traded as low as C$1.55 and last traded at C$1.59. 6,227,355 shares were traded during mid-day trading, an increase of 1,074% from the average session volume of 530,354 shares. The stock had previously closed at C$2.25.
New Found Gold Price Performance
The company has a market capitalization of C$333.68 million, a P/E ratio of -5.79 and a beta of 0.56. The firm’s 50-day moving average is C$2.46 and its 200-day moving average is C$2.77.
Insider Transactions at New Found Gold
In related news, Director Keith Boyle acquired 25,000 shares of the stock in a transaction dated Thursday, March 27th. The shares were 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 currently owned by company 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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