New Found Gold Corp. (CVE:NFG – Get Free Report) shares dropped 29.3% on Tuesday . The stock traded as low as C$1.55 and last traded at C$1.59. Approximately 6,227,355 shares changed hands during 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 stock has a market capitalization of C$323.51 million, a price-to-earnings ratio of -5.61 and a beta of 0.56. The stock’s 50 day simple moving average is C$2.52 and its 200-day simple moving average is C$2.80.
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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