New Found Gold (CVE:NFG) Shares Up 12.8% Following Insider Buying Activity

New Found Gold Corp. (CVE:NFG - Get Free Report) shares traded up 12.8% during trading on Friday after an insider bought additional shares in the company. The company traded as high as C$1.92 and last traded at C$1.85. 1,628,702 shares were traded during mid-day trading, an increase of 171% from the average session volume of 601,077 shares. The stock had previously closed at C$1.64.

Specifically, Director Keith Boyle purchased 25,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average cost of C$1.52 per share, with a total value of C$37,875.00.

New Found Gold Stock Performance

The company's 50 day moving average price is C$2.43 and its 200-day moving average price is C$2.74. The stock has a market cap of C$323.51 million, a P/E ratio of -5.61 and a beta of 0.56.

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.