New Found Gold Corp. (CVE:NFG - Get Free Report)'s stock price dropped 27.6% during trading on Tuesday . The stock traded as low as C$1.55 and last traded at C$1.63. Approximately 4,658,080 shares changed hands during trading, an increase of 832% from the average daily volume of 499,684 shares. The stock had previously closed at C$2.25.
New Found Gold Trading Up 2.7 %
The firm has a market capitalization of C$342.84 million, a price-to-earnings ratio of -5.95 and a beta of 0.56. The business has a 50-day moving average price of C$2.45 and a two-hundred day moving average price of C$2.76.
Insiders Place Their Bets
In other news, Director Keith Boyle purchased 25,000 shares of the stock in a transaction dated Thursday, March 27th. The stock was acquired at an average price of C$1.52 per share, for a total transaction of C$37,875.00. 44.06% of the stock is owned by corporate insiders.
New Found Gold Company Profile
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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.
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