New Found Gold Corp. (NYSE:NFGC - Get Free Report) saw a large increase in short interest in September. As of September 15th, there was short interest totaling 7,750,000 shares, an increase of 58.5% from the August 31st total of 4,890,000 shares. Based on an average daily volume of 911,300 shares, the short-interest ratio is presently 8.5 days. Approximately 6.4% of the shares of the stock are short sold. Approximately 6.4% of the shares of the stock are short sold. Based on an average daily volume of 911,300 shares, the short-interest ratio is presently 8.5 days.
Institutional Trading of New Found Gold
Hedge funds have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of New Found Gold during the 1st quarter worth approximately $25,000. Midwest Trust Co purchased a new stake in shares of New Found Gold during the 2nd quarter worth approximately $28,000. Virtu Financial LLC purchased a new stake in shares of New Found Gold during the 1st quarter worth approximately $52,000. National Bank of Canada FI raised 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 worth $77,000 after acquiring an additional 24,876 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of New Found Gold during the 2nd quarter worth approximately $82,000. 3.43% of the stock is owned by hedge funds and other institutional investors.
New Found Gold Trading Down 1.7%
NYSE NFGC opened at $2.30 on Monday. The stock's 50 day moving average is $1.87 and its 200 day moving average is $1.52. New Found Gold has a 12 month low of $0.93 and a 12 month high of $2.81. The stock has a market cap of $558.96 million, a PE ratio of -10.45 and a beta of 1.37.
About New Found Gold
(
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; and the Kingsway project located in Gander, Newfoundland.
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