New Found Gold (CVE:NFG) Sets New 12-Month High – Time to Buy?

Shares of New Found Gold Corp. (CVE:NFG) hit 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 changing hands. The stock had previously closed at C$4.24.

New Found Gold Trading Up 12.7%

The company has a market capitalization of C$1.64 billion, a P/E ratio of -21.73 and a beta of 1.44. The company’s 50 day moving average is C$3.85 and its 200-day moving average is C$3.08.

Insider Activity at New Found Gold

In other New Found Gold news, insider Palisades Goldcorp Ltd. sold 192,100 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of C$2.79, for a total value of C$535,959.00. Following the sale, the insider directly owned 33,850,676 shares of the company’s stock, valued at approximately C$94,443,386.04. The trade was a 0.56% decrease in their ownership of the stock. Also, Director Chad Williams bought 20,000 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was bought at an average cost of C$2.79 per share, for a total transaction of C$55,800.00. Following the completion of the purchase, the director 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. Insiders have sold 600,600 shares of company stock valued at $1,658,385 over the last quarter. Company insiders own 44.06% of the company’s stock.

About New Found Gold

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.