New Found Gold (CVE:NFG) Stock Price Up 11.3% – Still a Buy?

New Found Gold Corp. (CVE:NFG)’s share price shot up 11.3% during trading on Wednesday . The stock traded as high as C$1.58 and last traded at C$1.57. 507,710 shares were traded during mid-day trading, a decline of 17% from the average session volume of 612,302 shares. The stock had previously closed at C$1.41.

New Found Gold Price Performance

The company has a market cap of C$323.51 million, a price-to-earnings ratio of -5.61 and a beta of 0.56. The business’s fifty day simple moving average is C$2.23 and its two-hundred day simple moving average is C$2.60.

Insiders Place Their Bets

In other New Found Gold news, Director Keith Boyle bought 25,000 shares of New Found Gold stock in a transaction dated Thursday, March 27th. The stock was acquired at an average cost of C$1.52 per share, with a total value of C$37,875.00. Also, Senior Officer Jared Ryan Saunders purchased 33,250 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The stock was bought at an average price of C$1.50 per share, for a total transaction of C$49,875.00. Over the last 90 days, insiders have bought 60,450 shares of company stock valued at $90,784. 44.06% of the stock is currently owned by insiders.

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.