New Found Gold (NYSE:NFGC) Trading Up 5.6%
New Found Gold Corp. (NYSE:NFGC – Get Free Report)’s stock price shot up 5.6% during trading on Friday . The stock traded as high as $3.79 and last traded at $3.77. 152,496 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 294,593 shares. The stock had previously closed at $3.57.
Wall Street Analysts Forecast Growth
Separately, Roth Mkm reiterated a “buy” rating and set a $9.00 price objective on shares of New Found Gold in a research note on Tuesday, April 23rd.
View Our Latest Research Report on NFGC
New Found Gold Stock Performance
The business’s 50 day moving average price is $3.64 and its 200 day moving average price is $3.50.
New Found Gold (NYSE:NFGC – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. Research analysts forecast that New Found Gold Corp. will post -0.31 earnings per share for the current fiscal year.
Hedge Funds Weigh In On New Found Gold
Large investors have recently bought and sold shares of the business. Van ECK Associates Corp increased its position in shares of New Found Gold by 7.8% in the fourth quarter. Van ECK Associates Corp now owns 4,805,915 shares of the company’s stock valued at $16,948,000 after buying an additional 348,520 shares in the last quarter. Rathbones Group PLC acquired a new stake in shares of New Found Gold in the third quarter valued at about $198,000. 1832 Asset Management L.P. purchased a new stake in shares of New Found Gold during the fourth quarter worth about $88,000. Sprott Inc. acquired a new position in shares of New Found Gold during the 3rd quarter worth about $52,000. Finally, Quadrature Capital Ltd purchased a new position in New Found Gold in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 3.43% of the company’s stock.
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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