New Found Gold (CVE:NFG) Reaches New 12-Month Low – Should You Sell?

New Found Gold Corp. (CVE:NFG)’s share price reached a new 52-week low during trading on Friday . The company traded as low as C$1.88 and last traded at C$1.89, with a volume of 262601 shares. The stock had previously closed at C$1.98.

New Found Gold Stock Performance

The company has a fifty day simple moving average of C$2.25 and a two-hundred day simple moving average of C$2.94. The stock has a market capitalization of C$729.76 million, a price-to-earnings ratio of -7.92 and a beta of 2.35.

Insider Activity at New Found Gold

In related news, Director Chad Williams purchased 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average price of C$2.69 per share, for a total transaction of C$134,500.00. Following the completion of the transaction, the director owned 250,675 shares of the company’s stock, valued at approximately C$674,315.75. This trade represents a 24.92% increase in their ownership of the stock. 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. The company was formerly known as Palisade Resources Corp. and changed its name to New Found Gold Corp.