New Found Gold Corp. (CVE:NFG – Get Free Report) shares fell 8.1% during mid-day trading on Monday . The stock traded as low as C$3.95 and last traded at C$3.96. 198,667 shares traded hands during trading, a decline of 67% from the average session volume of 608,599 shares. The stock had previously closed at C$4.31.
New Found Gold Stock Down 1.5%
The business has a fifty day moving average of C$3.23 and a 200 day moving average of C$2.63. The company has a market cap of C$1.31 billion, a P/E ratio of -17.55 and a beta of 1.38.
Insider Activity
In related news, Director Chad Williams purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was bought at an average cost of C$2.79 per share, with a total value of C$55,800.00. Following the completion of the purchase, the director directly owned 50,675 shares in the company, valued at approximately C$141,383.25. This represents a 65.20% increase in their ownership of the stock. Also, insider Palisades Goldcorp Ltd. sold 57,900 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of C$2.78, for a total transaction of C$160,962.00. Following the completion of the sale, the insider owned 34,042,776 shares in the company, valued at approximately C$94,638,917.28. This trade represents a 0.17% decrease in their position. Over the last ninety days, insiders sold 2,128,830 shares of company stock valued at $6,055,499. 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.
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