New Found Gold (CVE:NFG) Shares Down 29.3% - Here's What Happened
New Found Gold Corp. (CVE:NFG) shares fell 29.3% during trading on Tuesday, closing at C$1.59 after reaching a low of C$1.55. Trading volume surged to 6,227,355 shares, significantly higher than the average of 530,354 shares. The company's market capitalization stands at C$323.51 million, with a price-to-earnings ratio of -5.61. New Found Gold primarily explores gold deposits in Newfoundland and Labrador, holding 100% interests in the Queensway project.
New Found Gold Corp. (CVE:NFG - Get Free Report) fell 29.3% during trading on Tuesday . The stock traded as low as C$1.55 and last traded at C$1.59. 6,227,355 shares traded hands during mid-day trading, an increase of 1,074% from the average session volume of 530,354 shares. The stock had previously closed at C$2.25.
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New Found Gold Price Performance
The business's 50-day simple moving average is C$2.50 and its two-hundred day simple moving average is C$2.79. The stock has a market capitalization of C$323.51 million, a price-to-earnings ratio of -5.61 and a beta of 0.56.
About New Found Gold
(Get Free Report)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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