New Found Gold Corp. (CVE:NFG – Get Free Report) shares fell 29.3% during trading on Tuesday . The stock traded as low as C$1.55 and last traded at C$1.59. 6,227,355 shares changed hands during 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 Stock Up 11.6 %
The firm has a 50 day simple moving average of C$2.46 and a two-hundred day simple moving average of C$2.77. The stock has a market capitalization of C$333.68 million, a P/E ratio of -5.79 and a beta of 0.56.
Insider Buying and Selling
In related news, Director Keith Boyle purchased 25,000 shares of New Found Gold stock in a transaction dated Thursday, March 27th. The shares were bought 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 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.
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