New Found Gold (OTCMKTS:NFGFF) Stock Price Down 5% – Time to Sell?

New Found Gold Corp. (OTCMKTS:NFGFF) shares dropped 5% during trading on Monday . The stock traded as low as $1.86 and last traded at $1.92. Approximately 1,390,537 shares changed hands during mid-day trading, an increase of 904% from the average daily volume of 138,499 shares. The stock had previously closed at $2.02.

New Found Gold Price Performance

The company’s 50 day simple moving average is $2.49 and its 200-day simple moving average is $2.53.

New Found Gold Company Profile

New Found Gold Corp. is a junior mineral exploration company focused on the discovery and development of gold deposits. Headquartered in Vancouver, British Columbia, the company trades on the OTC Markets under the symbol NFGFF and maintains a primary listing on the TSX Venture Exchange. Its corporate mandate is to advance high‐grade gold targets through systematic exploration, resource definition and preliminary economic assessment.

The company’s flagship asset is the Queensway project, located in Newfoundland and Labrador’s emerging Gander Gold District.