New Found Gold (CVE:NFG) Trading Down 29.3% – Should You Sell?

New Found Gold Corp. (CVE:NFG)’s share price dropped 29.3% during trading on Wednesday . The company traded as low as C$1.55 and last traded at C$1.59. Approximately 6,227,355 shares traded 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 Stock Performance

The company has a fifty day moving average price of C$2.46 and a two-hundred day moving average price of C$2.77. The company has a market cap of C$333.68 million, a P/E ratio of -5.79 and a beta of 0.56.

Insider Buying and Selling at New Found Gold

In related news, Director Keith Boyle acquired 25,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was bought at an average price of C$1.52 per share, with a total value of C$37,875.00. Corporate 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.