New Found Gold (CVE:NFG) Stock Price Down 5.2% – Here’s What Happened

New Found Gold Corp. (CVE:NFG) shares dropped 5.2% during mid-day trading on Monday . The stock traded as low as C$4.04 and last traded at C$4.05. Approximately 723,189 shares were traded during trading, an increase of 15% from the average daily volume of 630,393 shares. The stock had previously closed at C$4.27.

New Found Gold Stock Down 3.6%

The stock has a market capitalization of C$1.39 billion, a P/E ratio of -18.45 and a beta of 1.38. The stock has a 50 day simple moving average of C$3.42 and a two-hundred day simple moving average of C$2.85.

Insider Buying and Selling at New Found Gold

In related news, insider Palisades Goldcorp Ltd. sold 200,000 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of C$2.81, for a total transaction of C$562,000.00. Following the transaction, the insider directly 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 ownership of the stock. Insiders have sold 2,128,830 shares of company stock valued at $6,055,499 over the last three months. 44.06% of the stock is currently owned by company 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.