New Found Gold Corp. (CVE:NFG - Get Free Report) shares dropped 28.4% during mid-day trading on Tuesday . The stock traded as low as C$1.55 and last traded at C$1.61. Approximately 3,469,755 shares were traded during trading, an increase of 637% from the average daily volume of 470,954 shares. The stock had previously closed at C$2.25.
New Found Gold Price Performance
The stock's 50-day moving average is C$2.45 and its two-hundred day moving average is C$2.76. The stock has a market cap of C$342.84 million, a P/E ratio of -5.95 and a beta of 0.56.
Insider Buying and Selling
In other news, Director Keith Boyle bought 25,000 shares of the stock in a transaction on Thursday, March 27th. The stock was acquired 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.
New Found Gold Company Profile
(
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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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