New Found Gold (CVE:NFG) Shares Down 29.3% – Time to Sell?

by · The Markets Daily

New Found Gold Corp. (CVE:NFG – Get Free Report)’s stock price dropped 29.3% during trading on Tuesday . The company traded as low as C$1.55 and last traded at C$1.59. Approximately 6,227,355 shares changed hands during mid-day trading, an increase of 1,074% from the average daily volume of 530,354 shares. The stock had previously closed at C$2.25.

New Found Gold Price Performance

The firm’s 50 day simple moving average is C$2.52 and its two-hundred day simple moving average is C$2.80. The firm has a market capitalization of C$323.51 million, a P/E ratio of -5.61 and a beta of 0.56.

New Found Gold Company Profile

(Get Free Report)

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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