New Found Gold Corp. (CVE:NFG – Get Free Report) shares traded up 19.9% on Monday . The company traded as high as C$4.05 and last traded at C$3.97. 1,585,189 shares traded hands during trading, an increase of 164% from the average session volume of 601,023 shares. The stock had previously closed at C$3.31.
New Found Gold Stock Up 17.7%
The business’s 50-day simple moving average is C$3.10 and its two-hundred day simple moving average is C$2.52. The firm has a market capitalization of C$1.32 billion, a price-to-earnings ratio of -17.70 and a beta of 1.47.
Insider Buying and Selling
In other news, insider Palisades Goldcorp Ltd. sold 57,900 shares of New Found Gold stock in a transaction on Friday, October 24th. The stock was sold at an average price of C$2.78, for a total value of C$160,962.00. Following the completion of the sale, the insider directly owned 34,042,776 shares of the company’s stock, valued at approximately C$94,638,917.28. The trade was a 0.17% decrease in their ownership of the stock. Also, Director Chad Williams bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were purchased at an average cost of C$2.79 per share, for a total transaction of C$55,800.00. Following the purchase, the director owned 50,675 shares in the company, valued at C$141,383.25. This represents a 65.20% increase in their position. In the last three months, insiders sold 2,128,830 shares of company stock worth $6,055,499. 44.06% of the stock is owned by corporate 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.
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