Shares of New Found Gold Corp. (CVE:NFG – Get Free Report) dropped 29.3% during mid-day trading on Wednesday . 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 Trading Down 29.3 %
The stock has a 50-day simple moving average of C$2.50 and a 200 day simple moving average of C$2.79. The company has a market cap of C$323.51 million, a price-to-earnings ratio of -5.61 and a beta of 0.56.
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.
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