Van ECK Associates Corp raised its stake in shares of New Found Gold Corp. (NYSE:NFGC - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,805,915 shares of the company's stock after acquiring an additional 348,520 shares during the period. Van ECK Associates Corp owned approximately 2.57% of New Found Gold worth $16,948,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. HM Payson & Co. raised its holdings in New Found Gold by 144.3% in the third 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 in the last quarter. Sprott Inc. purchased a new position in New Found Gold in the third quarter valued at approximately $52,000. Raymond James Financial Services Advisors Inc. lifted 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 worth $81,000 after buying an additional 3,276 shares during the last quarter. Finally, Rathbones Group PLC purchased a new position in shares of New Found Gold in the 3rd quarter valued at $198,000. 3.43% of the stock is owned by hedge funds and other institutional investors.
New Found Gold Price Performance
NFGC traded down $0.03 during trading on Thursday, reaching $3.53. 185,898 shares of the stock were exchanged, compared to its average volume of 297,754. New Found Gold Corp. has a 1 year low of $3.02 and a 1 year high of $5.27. The company has a market capitalization of $673.56 million, a price-to-earnings ratio of -10.79 and a beta of 1.21. The business's 50 day moving average price is $3.56 and its two-hundred day moving average price is $3.56.
New Found Gold (NYSE:NFGC - Get Free Report) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). On average, analysts anticipate that New Found Gold Corp. will post -0.31 EPS for the current year.
Analyst Upgrades and Downgrades
Separately, Roth Mkm reaffirmed a "buy" rating and issued a $9.00 target price on shares of New Found Gold in a report on Tuesday, April 23rd.
Read Our Latest Stock Report on New Found Gold
New Found Gold Profile
(
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.
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