New Found Gold (CVE:NFG) Stock Price Down 26.2% - Time to Sell?

New Found Gold Corp. (CVE:NFG - Get Free Report) shares dropped 26.2% during trading on Tuesday . The company traded as low as C$1.55 and last traded at C$1.66. Approximately 2,066,662 shares changed hands during mid-day trading, an increase of 357% from the average daily volume of 452,117 shares. The stock had previously closed at C$2.25.

New Found Gold Trading Up 2.7 %

The company has a market capitalization of C$342.84 million, a P/E 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 Activity

In other New Found Gold news, Director Keith Boyle purchased 25,000 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was purchased at an average cost of C$1.52 per share, for a total transaction of C$37,875.00. Insiders own 44.06% of the company's stock.

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.