Shares of New Found Gold Corp. (CVE:NFG – Get Free Report) rose 14% on Friday after an insider bought additional shares in the company. The stock traded as high as C$1.88 and last traded at C$1.87. Approximately 1,203,596 shares traded hands during trading, an increase of 104% from the average daily volume of 591,064 shares. The stock had previously closed at C$1.64.
Specifically, Director Keith Boyle bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average cost of C$1.52 per share, for a total transaction of C$37,875.00.
New Found Gold Trading Up 2.7 %
The company has a market cap of C$342.84 million, a PE ratio of -5.95 and a beta of 0.56. The company has a fifty day simple moving average of C$2.45 and a two-hundred day simple moving average of C$2.76.
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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