New Found Gold (CVE:NFG) Sets New 12-Month Low – What’s Next?

Shares of New Found Gold Corp. (CVE:NFG) reached a new 52-week low on Monday . The company traded as low as C$2.03 and last traded at C$2.04, with a volume of 81846 shares traded. The stock had previously closed at C$2.12.

New Found Gold Price Performance

The business’s 50 day moving average is C$2.47 and its 200-day moving average is C$3.13. The company has a market cap of C$798.89 million, a PE ratio of -8.67 and a beta of 2.35.

Insider Activity

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