New Found Gold (CVE:NFG) Trading Down 5.5% - Should You Sell?

Key Points

• New Found Gold Corp. (CVE:NFG) stock experienced a drop of 5.5%, trading at C$2.76 with a notable increase in trading volume of 136% compared to its average.
• The company has a market capitalization of C$670.76 million and a price-to-earnings ratio of -12.00.
• New Found Gold is focused on gold exploration and holds a 100% interest in the Queensway project, covering an extensive area of approx. 166,475 hectares in Newfoundland.

New Found Gold Corp. (CVE:NFG - ) was down 5.5% on Thursday . The stock traded as low as C$2.76 and last traded at C$2.76. Approximately 1,378,843 shares were traded during mid-day trading, an increase of 136% from the average daily volume of 584,888 shares. The stock had previously closed at C$2.92.

New Found Gold Stock Down 5.5%

The company's fifty day simple moving average is C$2.92 and its two-hundred day simple moving average is C$2.26. The company has a market capitalization of C$670.76 million, a price-to-earnings ratio of -12.00 and a beta of 1.40.

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.

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