Shares of New Found Gold Corp. (CVE:NFG – Get Free Report) shot up 19.9% during mid-day trading on Monday . The company traded as high as C$4.05 and last traded at C$3.97. 1,585,189 shares traded hands during mid-day trading, an increase of 164% from the average session volume of 601,023 shares. The stock had previously closed at C$3.31.
New Found Gold Trading Up 17.7%
The firm has a 50-day moving average of C$3.10 and a 200 day moving average of C$2.52. The stock has a market capitalization of C$1.32 billion, a price-to-earnings ratio of -17.70 and a beta of 1.47.
Insider Transactions at New Found Gold
In related news, Director Chad Williams bought 20,000 shares of the stock in a transaction on Friday, October 24th. The shares were purchased at an average price of C$2.79 per share, with a total value of C$55,800.00. Following the purchase, the director 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 business’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 sale, the insider owned 34,042,776 shares in the company, valued at C$94,638,917.28. This trade represents a 0.17% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 2,128,830 shares of company stock worth $6,055,499. 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.
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