New Found Gold (CVE:NFG) Shares Down 28% – Should You Sell?

Shares of New Found Gold Corp. (CVE:NFG) were down 28% during mid-day trading on Tuesday . The company traded as low as C$1.55 and last traded at C$1.62. Approximately 4,129,891 shares traded hands during trading, an increase of 738% from the average daily volume of 493,048 shares. The stock had previously closed at C$2.25.

New Found Gold Trading Up 11.6 %

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 company has a 50 day simple moving average of C$2.48 and a 200-day simple moving average of C$2.78.

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 that occurred on Thursday, March 27th. The stock was acquired 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.