New Found Gold (CVE:NFG) Hits New 1-Year High – Here’s What Happened

New Found Gold Corp. (CVE:NFG)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as C$4.58 and last traded at C$4.52, with a volume of 1077730 shares. The stock had previously closed at C$4.24.

New Found Gold Stock Up 12.7%

The stock has a market capitalization of C$1.64 billion, a P/E ratio of -21.73 and a beta of 1.44. The business has a fifty day moving average price of C$3.85 and a 200-day moving average price of C$3.08.

Insider Buying and Selling

In other news, Director Chad Williams acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was bought at an average price of C$2.79 per share, with a total value of C$55,800.00. Following the completion of the acquisition, the director directly owned 50,675 shares of the company’s stock, valued at approximately C$141,383.25. The trade was a 65.20% increase in their position. Also, insider Palisades Goldcorp Ltd. sold 57,900 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of C$2.78, for a total value of C$160,962.00. Following the sale, the insider owned 34,042,776 shares of the company’s stock, valued at approximately C$94,638,917.28. This trade represents a 0.17% decrease in their position. In the last ninety days, insiders sold 600,600 shares of company stock valued at $1,658,385. 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. The company was formerly known as Palisade Resources Corp. and changed its name to New Found Gold Corp.