New Found Gold (CVE:NFG) Trading Up 6.5% – Here’s What Happened

New Found Gold Corp. (CVE:NFG)’s stock price shot up 6.5% during mid-day trading on Wednesday . The company traded as high as C$1.64 and last traded at C$1.64. 379,386 shares were traded during trading, a decline of 38% from the average session volume of 615,242 shares. The stock had previously closed at C$1.54.

New Found Gold Price Performance

The firm has a market cap of C$327.58 million, a PE ratio of -5.68 and a beta of 0.56. The company’s 50 day moving average price is C$2.15 and its 200 day moving average price is C$2.54.

Insider Buying and Selling at New Found Gold

In other news, Senior Officer Jared Ryan Saunders purchased 33,250 shares of the stock in a transaction 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. Also, Director Keith Boyle acquired 25,000 shares of New Found Gold stock in a transaction dated Thursday, March 27th. The stock was purchased at an average price of C$1.52 per share, for a total transaction of C$37,875.00. Insiders acquired 60,950 shares of company stock valued at $91,539 in the last 90 days. Company insiders own 44.06% of the company’s stock.

New Found Gold Company Profile

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.