New Found Gold (CVE:NFG) Trading Down 29.3% - Should You Sell?

New Found Gold Corp. (CVE:NFG - Get Free Report) shares dropped 29.3% during trading on Wednesday . The company traded as low as C$1.55 and last traded at C$1.59. Approximately 6,227,355 shares traded hands during mid-day trading, an increase of 1,074% from the average daily volume of 530,354 shares. The stock had previously closed at C$2.25.

New Found Gold Price Performance

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

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 that occurred on Thursday, March 27th. The shares were acquired at an average price of C$1.52 per share, for a total transaction of C$37,875.00. Company insiders own 44.06% of the company's stock.

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.