New Found Gold (CVE:NFG) Trading Down 26.2% – Here’s What Happened

New Found Gold Corp. (CVE:NFG)’s stock price dropped 26.2% during mid-day trading on Tuesday . The company traded as low as C$1.55 and last traded at C$1.66. Approximately 5,280,875 shares changed hands during trading, an increase of 934% from the average daily volume of 510,845 shares. The stock had previously closed at C$2.25.

New Found Gold Stock Performance

The stock has a market cap of C$333.68 million, a price-to-earnings ratio of -5.79 and a beta of 0.56. The stock has a fifty day simple moving average of C$2.48 and a two-hundred day simple moving average of C$2.78.

Insider Buying and Selling

In other news, Director Keith Boyle bought 25,000 shares of the stock in a transaction on Thursday, March 27th. The shares were acquired 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 currently 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.