New Found Gold (CVE:NFG) Trading Down 26.2% - Should You Sell?

New Found Gold Corp. (CVE:NFG - Get Free Report) shares dropped 26.2% on Tuesday . The company traded as low as C$1.55 and last traded at C$1.66. Approximately 2,066,662 shares changed hands during mid-day trading, an increase of 357% from the average daily volume of 452,117 shares. The stock had previously closed at C$2.25.

New Found Gold Stock Performance

The firm has a fifty day simple moving average of C$2.45 and a 200-day simple moving average of C$2.76. The firm has a market cap of C$342.84 million, a price-to-earnings ratio of -5.95 and a beta of 0.56.

Insider Activity

In other news, Director Keith Boyle bought 25,000 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were bought at an average price of C$1.52 per share, with a total value of C$37,875.00. Insiders own 44.06% of the company's stock.

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.