Fury Gold Mines (NYSEAMERICAN:FURY) Stock Price Up 1.6% - Should You Buy?

Key Points

• Fury Gold Mines Limited's stock price increased by 1.6% to $0.73, with a trading volume of approximately 1.3 million shares, surpassing the average daily volume.
• HC Wainwright has maintained a "buy" rating on the stock, setting a target price of $1.40, indicating positive analyst sentiment.
• Institutional investors have shown interest, with notable increases in stakes from firms like Bank of America, which raised its investment by 590% to own 103,500 shares.

Fury Gold Mines Limited (NYSEAMERICAN:FURY - Get Free Report) rose 1.6% on Monday . The stock traded as high as $0.77 and last traded at $0.73. Approximately 1,325,903 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 1,236,674 shares. The stock had previously closed at $0.72.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $1.40 target price on shares of Fury Gold Mines in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $1.40.

Fury Gold Mines Price Performance

The stock has a market cap of $136.53 million, a PE ratio of -1.37 and a beta of 0.91. The business has a fifty day moving average of $0.63 and a 200 day moving average of $0.52.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FURY. Virginia Wealth Management Group Inc. purchased a new position in Fury Gold Mines in the third quarter valued at about $46,000. Bank of America Corp DE raised its stake in Fury Gold Mines by 590.0% during the second quarter. Bank of America Corp DE now owns 103,500 shares of the company's stock valued at $51,000 after buying an additional 88,500 shares in the last quarter. Finally, Ashford Capital Management Inc. raised its stake in Fury Gold Mines by 10.2% during the first quarter. Ashford Capital Management Inc. now owns 3,650,015 shares of the company's stock valued at $1,442,000 after buying an additional 339,000 shares in the last quarter. Hedge funds and other institutional investors own 12.14% of the company's stock.

About Fury Gold Mines

Fury Gold Mines Limited, together with its subsidiaries, engages in the gold exploration in Canada. Its principal projects include 100% owned Eau Claire property covering an area of approximately 24,000 hectares located in the Eeyou Istchee/James Bay Region of Quebec; ans Committee Bay gold project with approximately 250,000 hectares located in Nunavut, Canada.

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