Shares of New Found Gold Corp. (CVE:NFG – Get Free Report) were down 27.6% 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 Stock Down 29.3 %
The company’s 50-day moving average is C$2.52 and its 200-day moving average is C$2.80. The stock has a market capitalization of C$323.51 million, a price-to-earnings ratio of -5.61 and a beta of 0.56.
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.
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