New Found Gold (CVE:NFG) Hits New 12-Month Low – Here’s Why

New Found Gold Corp. (CVE:NFG)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as C$1.88 and last traded at C$1.89, with a volume of 262601 shares traded. The stock had previously closed at C$1.98.

New Found Gold Price Performance

The stock has a 50 day simple moving average of C$2.26 and a two-hundred day simple moving average of C$2.95. The company has a market cap of C$725.92 million, a PE ratio of -7.88 and a beta of 2.35.

Insider Activity at New Found Gold

In other New Found Gold news, Director Chad Williams purchased 50,000 shares of New Found Gold stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average price of C$2.69 per share, for a total transaction of C$134,500.00. Following the transaction, the director directly owned 250,675 shares in the company, valued at C$674,315.75. This trade represents a 24.92% increase in their ownership of the stock. 44.06% of the stock is 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.