New Found Gold Corp. (CVE:NFG – Get Free Report) was up 12.8% during trading on Friday following insider buying activity. The company traded as high as C$1.92 and last traded at C$1.85. Approximately 1,628,702 shares were traded during mid-day trading, an increase of 171% from the average daily volume of 601,077 shares. The stock had previously closed at C$1.64.
Specifically, Director Keith Boyle acquired 25,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average cost of C$1.52 per share, with a total value of C$37,875.00.
New Found Gold Stock Up 2.7 %
The stock has a market capitalization of C$342.84 million, a price-to-earnings ratio of -5.95 and a beta of 0.56. The company’s 50-day simple moving average is C$2.45 and its 200 day simple moving average is C$2.76.
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.
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