New Found Gold (CVE:NFG) Trading Down 29.3% – What’s Next?

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

New Found Gold Price Performance

The business has a 50-day moving average of C$2.46 and a 200-day moving average of C$2.77. The company has a market capitalization of C$333.68 million, a P/E ratio of -5.79 and a beta of 0.56.

Insider Buying and Selling

In other New Found Gold news, Director Keith Boyle purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average cost of C$1.52 per share, with a total value of C$37,875.00. 44.06% of the stock is owned by corporate 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.