New Found Gold Corp. (CVE:NFG – Get Free Report)’s stock price dropped 28% on Tuesday . The stock traded as low as C$1.55 and last traded at C$1.62. Approximately 4,129,891 shares changed hands during trading, an increase of 738% from the average daily volume of 493,048 shares. The stock had previously closed at C$2.25.
New Found Gold Trading Up 11.6 %
The company has a market cap of C$333.68 million, a P/E ratio of -5.79 and a beta of 0.56. The business has a 50 day moving average price of C$2.48 and a 200-day moving average price of C$2.78.
Insiders Place Their Bets
In other New Found Gold news, Director Keith Boyle purchased 25,000 shares of the stock in a transaction on Thursday, March 27th. The shares were purchased at an average price of C$1.52 per share, with a total value of C$37,875.00. 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.
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