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

New Found Gold Corp. (CVE:NFG)’s share price was down 29.3% during trading on Tuesday . The company traded as low as C$1.55 and last traded at C$1.59. Approximately 6,227,355 shares changed hands during mid-day 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 Stock Up 11.6 %

The company has a fifty day simple moving average of C$2.48 and a 200-day simple moving average of C$2.78. The firm has a market cap of C$333.68 million, a P/E ratio of -5.79 and a beta of 0.56.

Insider Activity

In other news, Director Keith Boyle bought 25,000 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were bought at an average price of C$1.52 per share, for a total transaction 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.