New Found Gold (CVE:NFG) Stock Price Down 29.3% – Here’s Why

New Found Gold Corp. (CVE:NFG)’s share price traded down 29.3% during mid-day trading on Tuesday . The stock traded as low as C$1.55 and last traded at C$1.59. 6,227,355 shares traded hands during trading, an increase of 1,074% from the average session volume of 530,354 shares. The stock had previously closed at C$2.25.

New Found Gold Stock Up 11.6 %

The stock has a market cap of C$333.68 million, a PE ratio of -5.79 and a beta of 0.56. The firm has a fifty day moving average of C$2.48 and a 200 day moving average of C$2.78.

Insider Buying and Selling

In related news, Director Keith Boyle purchased 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average cost of C$1.52 per share, for a total transaction of C$37,875.00. 44.06% of the stock is owned by company insiders.

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.