Shares of New Found Gold Corp. (CVE:NFG – Get Free Report) shot up 12.8% during mid-day trading on Friday following insider buying activity. The stock traded as high as C$1.92 and last traded at C$1.85. 1,628,702 shares were traded during trading, an increase of 171% from the average session volume of 601,077 shares. The stock had previously closed at C$1.64.
Specifically, Director Keith Boyle bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average cost of C$1.52 per share, for a total transaction of C$37,875.00.
New Found Gold Price Performance
The firm has a market capitalization of C$342.84 million, a price-to-earnings ratio of -5.95 and a beta of 0.56. The business’s 50-day moving average price is C$2.45 and its 200 day moving average price is C$2.76.
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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