New Found Gold (CVE:NFG) Stock Price Up 7.8% - Still a Buy?

Shares of New Found Gold Corp. (CVE:NFG - Get Free Report) rose 7.8% during trading on Wednesday . The stock traded as high as C$2.06 and last traded at C$1.93. Approximately 1,258,174 shares were traded during mid-day trading, an increase of 128% from the average daily volume of 552,438 shares. The stock had previously closed at C$1.79.Get New Found Gold alerts:New Found Gold Stock Up 11.7%The company's 50 day moving average is C$1.64 and its 200 day moving average is C$2.21. The firm has a market capitalization of C$406.93 million, a price-to-earnings ratio of -7.06 and a beta of 0.56. Insider Transactions at New Found GoldIn other news, Senior Officer Jared Ryan Saunders purchased 33,250 shares of the stock in a transaction on Friday, April 11th. The stock was purchased at an average price of C$1.50 per share, for a total transaction of C$49,875.00. Also, Director Keith Boyle purchased 25,000 shares of the stock in a transaction on Thursday, March 27th. The shares were purchased at an average price of C$1.52 per share, with a total value of C$37,875.00. Over the last 90 days, insiders purchased 60,950 shares of company stock valued at $91,539. 44.06% of the stock is currently owned by insiders. New Found Gold Company Profile (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.Read MoreFive stocks we like better than New Found Gold3 Tickers Leading a Meme Stock RevivalGameStop Buys Bitcoin: Smart Strategy or Big Mistake?How to trade penny stocks: A step-by-step guideQualcomm Stock Turns South: 3 Entry Signals to Watch ForHow to Most Effectively Use the MarketBeat Earnings ScreenerTrump Orders Nuclear Overhaul: These 3 Stocks Stand to BenefitThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in New Found Gold Right Now?Before you consider New Found Gold, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Found Gold wasn't on the list.While New Found Gold currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here