New Found Gold (CVE:NFG) Shares Up 2.4% – Still a Buy?

New Found Gold Corp. (CVE:NFG)’s share price traded up 2.4% during mid-day trading on Thursday . The company traded as high as C$2.21 and last traded at C$2.16. Approximately 348,388 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 732,925 shares. The stock had previously closed at C$2.11.

New Found Gold Stock Performance

The company’s fifty day moving average price is C$2.51 and its 200 day moving average price is C$3.18. The firm has a market capitalization of C$829.62 million, a price-to-earnings ratio of -9.00 and a beta of 2.35.

Insiders Place Their Bets

In other New Found Gold news, Director Chad Williams bought 50,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were purchased at an average price of C$2.69 per share, with a total value of C$134,500.00. Following the completion of the acquisition, the director directly owned 250,675 shares of the company’s stock, valued at approximately C$674,315.75. The trade was a 24.92% increase in their position. 44.06% of the stock is currently owned by company insiders.

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. The company was formerly known as Palisade Resources Corp. and changed its name to New Found Gold Corp.