New Found Gold (CVE:NFG) Hits New 52-Week High – Still a Buy?

by · The Markets Daily

Shares of New Found Gold Corp. (CVE:NFG – Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as C$3.96 and last traded at C$3.91, with a volume of 1218649 shares traded. The stock had previously closed at C$3.31.

New Found Gold Stock Up 18.7%

The company has a market cap of C$1.33 billion, a PE ratio of -17.86 and a beta of 1.47. The stock’s 50 day simple moving average is C$3.10 and its two-hundred day simple moving average is C$2.52.

Insiders Place Their Bets

In other New Found Gold news, insider Palisades Goldcorp Ltd. sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of C$2.81, for a total transaction of C$562,000.00. Following the completion of the sale, the insider directly owned 34,280,076 shares in the company, valued at C$96,327,013.56. The trade was a 0.58% decrease in their ownership of the stock. Insiders have sold 2,128,830 shares of company stock worth $6,055,499 over the last 90 days. Insiders own 44.06% of the company’s stock.

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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