Shares of New Found Gold Corp. (CVE:NFG – Get Free Report) dropped 25.3% during mid-day trading on Tuesday . The stock traded as low as C$1.55 and last traded at C$1.68. Approximately 1,838,900 shares changed hands during trading, an increase of 316% from the average daily volume of 441,718 shares. The stock had previously closed at C$2.25.
New Found Gold Stock Performance
The company has a market cap of C$299.09 million, a P/E ratio of -5.19 and a beta of 0.56. The stock has a 50 day moving average price of C$2.48 and a 200 day moving average price of C$2.78.
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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