New Found Gold (NYSE:NFGC - Get Free Report)'s stock had its "buy" rating restated by research analysts at Roth Mkm in a report issued on Tuesday, Benzinga reports. They presently have a $9.00 price target on the stock. Roth Mkm's price objective would suggest a potential upside of 136.84% from the company's current price.
New Found Gold Trading Up 5.3 %
Shares of NFGC traded up $0.19 on Tuesday, reaching $3.80. The company's stock had a trading volume of 333,326 shares, compared to its average volume of 299,481. New Found Gold has a twelve month low of $3.02 and a twelve month high of $5.27. The stock has a market capitalization of $721.77 million, a PE ratio of -11.52 and a beta of 1.22. The firm has a fifty day moving average of $3.52 and a 200-day moving average of $3.57.
New Found Gold (NYSE:NFGC - Get Free Report) last posted its quarterly earnings data on Thursday, March 21st. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). As a group, equities analysts anticipate that New Found Gold will post -0.31 EPS for the current fiscal year.
Institutional Investors Weigh In On New Found Gold
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its position in shares of New Found Gold by 20.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 19,500 shares of the company's stock valued at $81,000 after acquiring an additional 3,276 shares during the period. HM Payson & Co. grew its position in shares of New Found Gold by 144.3% during the 3rd quarter. HM Payson & Co. now owns 7,000 shares of the company's stock valued at $29,000 after acquiring an additional 4,135 shares during the period. Quadrature Capital Ltd bought a new position in shares of New Found Gold during the 4th quarter valued at approximately $38,000. Sprott Inc. bought a new position in shares of New Found Gold during the 3rd quarter valued at approximately $52,000. Finally, National Bank of Canada FI grew its position in shares of New Found Gold by 370.4% during the 3rd quarter. National Bank of Canada FI now owns 19,050 shares of the company's stock valued at $74,000 after acquiring an additional 15,000 shares during the period. Hedge funds and other institutional investors own 3.43% of the company's stock.
About New Found Gold
(
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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.
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