New Found Gold (CVE:NFG) Stock Price Down 0.4% - Time to Sell?

Key Points

• Stock ticked down 0.4% to C$2.81 on Monday with only ~308,495 shares traded (down 63% from average), and the share price sits below its 50‑day (C$3.08) and 200‑day (C$3.46) moving averages.
• Insiders are buying: Director Chad Williams purchased 35,200 shares at C$2.45, bringing his holding to 200,675 shares; insiders have bought 69,000 shares in the past 90 days and collectively own 44.06% of the company.
• Company snapshot: New Found Gold has a market cap of ~C$970 million and a negative PE (-14.05), and its primary asset is the large Queensway gold exploration project in Newfoundland.

New Found Gold Corp. (CVE:NFG - )'s share price dropped 0.4% during trading on Monday . The company traded as low as C$2.73 and last traded at C$2.81. Approximately 308,495 shares were traded during trading, a decline of 63% from the average daily volume of 827,743 shares. The stock had previously closed at C$2.82.

New Found Gold Price Performance

The company has a market capitalization of C$970.05 million, a PE ratio of -14.05 and a beta of 2.02. The stock's 50 day simple moving average is C$3.08 and its 200-day simple moving average is C$3.46.

Insider Buying and Selling at New Found Gold

In other New Found Gold news, Director Chad Williams acquired 35,200 shares of the company's stock in a transaction that occurred on Monday, March 30th. The stock was purchased at an average price of C$2.45 per share, for a total transaction of C$86,240.00. Following the completion of the acquisition, the director owned 200,675 shares of the company's stock, valued at approximately C$491,653.75. This trade represents a 21.27% increase in their position. Insiders have purchased a total of 69,000 shares of company stock valued at $170,562 in the last ninety days. Insiders own 44.06% of the company's stock.

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

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