New Found Gold (NYSE:NFGC - Get Free Report) had its price objective raised by research analysts at Roth Mkm from $8.50 to $9.00 in a report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. Roth Mkm's target price would suggest a potential upside of 127.27% from the company's current price.
New Found Gold Trading Up 1.5 %
Shares of NFGC traded up $0.06 during midday trading on Monday, reaching $3.96. The stock had a trading volume of 881,919 shares, compared to its average volume of 273,958. The firm has a 50 day simple moving average of $3.42 and a 200-day simple moving average of $3.59. The firm has a market cap of $750.16 million, a PE ratio of -12.00 and a beta of 1.22. New Found Gold has a one year low of $3.02 and a one year high of $5.70.
New Found Gold (NYSE:NFGC - Get Free Report) last posted its earnings results on Thursday, March 21st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). As a group, research analysts forecast that New Found Gold will post -0.31 EPS for the current fiscal year.
Institutional Trading of New Found Gold
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd acquired a new position in shares of New Found Gold in the 4th quarter valued at approximately $38,000. Prelude Capital Management LLC acquired a new position in shares of New Found Gold in the 4th quarter valued at approximately $43,000. 1832 Asset Management L.P. acquired a new position in shares of New Found Gold in the 4th quarter valued at approximately $88,000. Van ECK Associates Corp raised its position in shares of New Found Gold by 7.8% in the 4th 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. Finally, Sprott Inc. acquired a new position in shares of New Found Gold in the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds own 3.43% of the company's stock.
About New Found Gold
(
Get Free Report)
New Found Gold Corp., a mineral exploration company, engages in the identification, acquisition, and exploration of mineral properties in the Provinces of Newfoundland and Labrador, and Ontario. The company primarily explores for gold deposit. It holds 100% interests in the Queensway project that includes 94 mineral licenses and 6,649 claims covering an area of 166,225 hectares of land located near Gander, Newfoundland; and the Lucky Strike project comprising 11,684 hectares located in Kirkland Lake, Ontario.
Featured Articles
Before you consider New Found Gold, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Found Gold wasn't on the list.
While New Found Gold currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Get This Free Report
