New Found Gold (CVE:NFG) Shares Up 18.1% – Here’s What Happened

Shares of New Found Gold Corp. (CVE:NFG) shot up 18.1% during trading on Monday . The company traded as high as C$3.96 and last traded at C$3.91. 1,218,649 shares changed hands during trading, an increase of 103% from the average session volume of 599,692 shares. The stock had previously closed at C$3.31.

New Found Gold Trading Up 5.7%

The firm has a market capitalization of C$1.39 billion, a PE ratio of -18.64 and a beta of 1.47. The firm has a 50-day moving average of C$3.14 and a two-hundred day moving average of C$2.55.

Insider Buying and Selling at New Found Gold

In other news, insider Palisades Goldcorp Ltd. sold 200,000 shares of the business’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 completion of the sale, the insider owned 34,280,076 shares in the company, valued at approximately C$96,327,013.56. The trade was a 0.58% decrease in their position. Over the last quarter, insiders sold 2,128,830 shares of company stock valued at $6,055,499. 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.