New Found Gold (CVE:NFG) Shares Up 6.5% – Here’s What Happened

New Found Gold Corp. (CVE:NFG) shares shot up 6.5% on Wednesday . The stock traded as high as C$1.64 and last traded at C$1.64. 379,386 shares were traded during trading, a decline of 38% from the average session volume of 615,242 shares. The stock had previously closed at C$1.54.

New Found Gold Price Performance

The firm has a market cap of C$333.68 million, a PE ratio of -5.79 and a beta of 0.56. The business’s fifty day moving average is C$2.18 and its 200-day moving average is C$2.56.

Insiders Place Their Bets

In other news, Director Keith Boyle purchased 25,000 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were purchased at an average price of C$1.52 per share, with a total value of C$37,875.00. Also, Senior Officer Jared Ryan Saunders bought 33,250 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was acquired at an average price of C$1.50 per share, for a total transaction of C$49,875.00. Insiders bought 60,950 shares of company stock valued at $91,539 over the last ninety days. 44.06% of the stock is currently 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.