New Found Gold (CVE:NFG) Shares Up 2.7% - Should You Buy?

Key Points

• New Found Gold Corp. (CVE:NFG) shares rose by 2.7%, trading at C$3.40, marking a significant increase from the previous close of C$3.31.
• The stock saw a trading volume of 809,092 shares, reflecting a 47% increase from its average session volume of 549,164 shares.
• New Found Gold has a market cap of C$826.30 million and currently explores gold deposits, holding a 100% interest in the Queensway project in Newfoundland.

Shares of New Found Gold Corp. (CVE:NFG - ) shot up 2.7% during trading on Wednesday . The stock traded as high as C$3.44 and last traded at C$3.40. 809,092 shares changed hands during trading, an increase of 47% from the average session volume of 549,164 shares. The stock had previously closed at C$3.31.

New Found Gold Price Performance

The firm's 50-day moving average price is C$2.54 and its 200 day moving average price is C$2.09. The firm has a market cap of C$826.30 million, a P/E ratio of -14.78 and a beta of 1.04.

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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