New Found Gold (CVE:NFG) Trading Down 29.3% - What's Next?

New Found Gold Corp. (CVE:NFG - Get Free Report) shares traded down 29.3% during trading on Wednesday . 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 Performance

The company has a 50 day moving average of C$2.45 and a 200 day moving average of C$2.76. The stock has a market capitalization of C$342.84 million, a price-to-earnings ratio of -5.95 and a beta of 0.56.

Insider Buying and Selling at New Found Gold

In related news, Director Keith Boyle bought 25,000 shares of the company's stock in a transaction on Thursday, March 27th. The stock was 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 insiders.

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.