Sprott Inc. Has $1.08 Million Stock Position in New Found Gold Corp. $NFGC

Key Points

• Sprott Inc. increased its stake in New Found Gold Corp. by 817.7%, acquiring an additional 800,500 shares to own a total of 898,400 shares, valued at approximately $1,080,000.
• Several other institutional investors have also significantly increased their holdings in New Found Gold, with Millennium Management LLC growing its stake by 668.2% and Bank of America Corp DE increasing its holdings by 25.9%.
• The stock's market performance shows a twelve-month low of $0.9257 and a high of $3.07, with a current price of $1.59.

Sprott Inc. increased its holdings in New Found Gold Corp. (NYSE:NFGC - Free Report) by 817.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 898,400 shares of the company's stock after buying an additional 800,500 shares during the quarter. Sprott Inc. owned about 0.45% of New Found Gold worth $1,080,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in New Found Gold during the 4th quarter valued at $34,000. XTX Topco Ltd acquired a new stake in New Found Gold during the first quarter valued at $25,000. Virtu Financial LLC bought a new position in New Found Gold during the first quarter valued at about $52,000. National Bank of Canada FI raised its holdings in New Found Gold by 60.4% during the first quarter. National Bank of Canada FI now owns 66,058 shares of the company's stock valued at $77,000 after buying an additional 24,876 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its holdings in New Found Gold by 37.0% during the fourth quarter. Integrated Advisors Network LLC now owns 83,290 shares of the company's stock valued at $152,000 after buying an additional 22,500 shares in the last quarter. 3.43% of the stock is currently owned by institutional investors and hedge funds.

New Found Gold Stock Performance

Shares of New Found Gold stock traded up $0.03 during trading on Wednesday, reaching $1.70. The company's stock had a trading volume of 252,207 shares, compared to its average volume of 908,293. The business's fifty day moving average price is $1.55 and its 200-day moving average price is $1.47. The firm has a market cap of $391.10 million, a price-to-earnings ratio of -7.70 and a beta of 1.30. New Found Gold Corp. has a one year low of $0.93 and a one year high of $2.89.

New Found Gold 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; and the Kingsway project located in Gander, Newfoundland.