New Found Gold Corp. (CVE:NFG – Get Free Report) shot up 4.1% during mid-day trading on Friday . The stock traded as high as C$2.56 and last traded at C$2.53. 548,419 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 690,776 shares. The stock had previously closed at C$2.43.
New Found Gold Price Performance
The stock has a fifty day moving average price of C$2.18 and a two-hundred day moving average price of C$2.73. The company has a market cap of C$972.43 million, a P/E ratio of -11.50 and a beta of 2.34.
Insider Activity at New Found Gold
In other New Found Gold news, Director Chad Williams purchased 50,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were purchased at an average cost of C$2.69 per share, for a total transaction of C$134,500.00. Following the completion of the transaction, the director owned 250,675 shares in the company, valued at C$674,315.75. The trade was a 24.92% increase in their ownership of the stock. 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. The company was formerly known as Palisade Resources Corp. and changed its name to New Found Gold Corp.
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