Sprott Inc. Buys 800,500 Shares of 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. boosted its position in New Found Gold Corp. (NYSE:NFGC - Free Report) by 817.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 898,400 shares of the company's stock after purchasing an additional 800,500 shares during the period. Sprott Inc. owned about 0.45% of New Found Gold worth $1,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in shares of New Found Gold during the first quarter valued at about $52,000. National Bank of Canada FI grew its holdings in shares of New Found Gold by 60.4% during the 1st quarter. National Bank of Canada FI now owns 66,058 shares of the company's stock valued at $77,000 after acquiring an additional 24,876 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of New Found Gold during the 1st quarter worth $25,000. Total Wealth Planning & Management Inc. raised its position in shares of New Found Gold by 13.9% during the first quarter. Total Wealth Planning & Management Inc. now owns 125,400 shares of the company's stock valued at $150,000 after buying an additional 15,328 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its holdings in shares of New Found Gold by 37.0% during the fourth quarter. Integrated Advisors Network LLC now owns 83,290 shares of the company's stock worth $152,000 after buying an additional 22,500 shares in the last quarter. 3.43% of the stock is currently owned by hedge funds and other institutional investors.

New Found Gold Stock Performance

NYSE:NFGC traded up $0.07 on Monday, reaching $1.70. The company's stock had a trading volume of 533,751 shares, compared to its average volume of 914,231. New Found Gold Corp. has a 1-year low of $0.9257 and a 1-year high of $3.02. The firm has a market cap of $392.25 million, a PE ratio of -7.73 and a beta of 1.30. The business's 50-day moving average price is $1.55 and its two-hundred day moving average price is $1.47.

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.