New Found Gold (CVE:NFG) Shares Down 29.8% - Time to Sell?

New Found Gold Corp. (CVE:NFG - Get Free Report) shares fell 29.8% during mid-day trading on Tuesday . The stock traded as low as C$1.55 and last traded at C$1.58. 3,547,956 shares changed hands during mid-day trading, an increase of 653% from the average session volume of 470,954 shares. The stock had previously closed at C$2.25.

New Found Gold Stock Up 2.7 %

The business has a 50-day simple moving average of C$2.45 and a 200-day simple moving average of C$2.76. The company has a market cap of C$342.84 million, a PE ratio of -5.95 and a beta of 0.56.

Insider Buying and Selling at New Found Gold

In related news, Director Keith Boyle acquired 25,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average price of C$1.52 per share, with a total value of C$37,875.00. 44.06% of the stock is currently owned by 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.