New Found Gold (CVE:NFG) Trading 13.4% Higher - Time to Buy?

New Found Gold Corp. (CVE:NFG - Get Free Report) shares traded up 13.4% during mid-day trading on Wednesday . The company traded as high as C$2.09 and last traded at C$2.03. 1,664,547 shares were traded during trading, an increase of 196% from the average session volume of 561,736 shares. The stock had previously closed at C$1.79.

New Found Gold Stock Performance

The stock has a market cap of C$433.38 million, a P/E ratio of -7.52 and a beta of 0.56. The stock has a 50-day moving average price of C$1.64 and a 200-day moving average price of C$2.20.

Insider Activity

In other news, Director Keith Boyle acquired 25,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average cost of C$1.52 per share, with a total value of C$37,875.00. Also, Senior Officer Jared Ryan Saunders acquired 33,250 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The shares were purchased at an average cost of C$1.50 per share, for a total transaction of C$49,875.00. In the last 90 days, insiders acquired 60,950 shares of company stock worth $91,539. 44.06% of the stock is currently owned by insiders.

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.