New Found Gold Corp. (CVE:NFG – Get Free Report) rose 18.1% during trading on Monday . The company traded as high as C$3.96 and last traded at C$3.91. Approximately 1,218,649 shares traded hands during mid-day trading, an increase of 103% from the average daily volume of 599,692 shares. The stock had previously closed at C$3.31.
New Found Gold Price Performance
The stock has a market cap of C$1.39 billion, a price-to-earnings ratio of -18.64 and a beta of 1.47. The firm has a 50 day simple moving average of C$3.14 and a two-hundred day simple moving average of C$2.55.
Insider Transactions at New Found Gold
In other news, insider Palisades Goldcorp Ltd. sold 200,000 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of C$2.81, for a total transaction of C$562,000.00. Following the sale, the insider owned 34,280,076 shares of the company’s stock, valued at C$96,327,013.56. This trade represents a 0.58% decrease in their ownership of the stock. Insiders sold 2,128,830 shares of company stock valued at $6,055,499 over the last ninety days. 44.06% of the stock is currently owned by insiders.
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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