New Found Gold Corp. (CVE:NFG – Get Free Report)’s stock price dropped 26.2% on Tuesday . The company traded as low as C$1.55 and last traded at C$1.66. Approximately 2,066,662 shares changed hands during mid-day trading, an increase of 357% from the average daily volume of 452,117 shares. The stock had previously closed at C$2.25.
New Found Gold Trading Down 7.5 %
The company has a market capitalization of C$299.09 million, a price-to-earnings ratio of -5.19 and a beta of 0.56. The firm’s 50 day simple moving average is C$2.48 and its 200-day simple moving average is C$2.78.
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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