Fury Gold Mines (NYSEAMERICAN:FURY) Stock Price Down 6.8% - Here's What Happened

Key Points

• Fury Gold Mines shares fell 6.8% to $0.5241, with trading volume surging to about 833,000 shares—nearly three times the average session volume.
• Analyst sentiment remains positive overall: HC Wainwright lowered its price target to $1.90 but maintained a Buy rating, while the consensus rating is Moderate Buy with a $1.90 average target.
• Institutional ownership stands at 12.14%, with several investors increasing or initiating positions, including Caisse de dépôt et placement du Québec, which acquired a stake valued at approximately $1.59 million.

Shares of Fury Gold Mines Limited (NYSEAMERICAN:FURY - Get Free Report) traded down 6.8% on Tuesday. The stock traded as low as $0.5084 and last traded at $0.5241. Approximately 832,654 shares were traded during trading, an increase of 292% from the average session volume of 212,320 shares. The stock had previously closed at $0.5624.

Analyst Ratings Changes

Several research firms recently issued reports on FURY. HC Wainwright decreased their target price on shares of Fury Gold Mines from $2.00 to $1.90 and set a "buy" rating on the stock in a research report on Monday, August 24th. UBS Group set a $1.90 price target on shares of Fury Gold Mines in a research report on Monday, August 24th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1.90.

Fury Gold Mines Stock Performance

The firm has a market capitalization of $99.65 million, a price-to-earnings ratio of -3.49 and a beta of 0.72. The business has a fifty day moving average price of $0.58 and a 200 day moving average price of $0.57.

Institutional Investors Weigh In On Fury Gold Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in FURY. Ashford Capital Management Inc. lifted its position in Fury Gold Mines by 2.2% during the first quarter. Ashford Capital Management Inc. now owns 3,730,015 shares of the company's stock valued at $2,272,000 after buying an additional 80,000 shares in the last quarter. Cibc World Market Inc. purchased a new stake in Fury Gold Mines during the second quarter worth approximately $52,000. Bank of America Corp DE grew its stake in Fury Gold Mines by 7.6% during the first quarter. Bank of America Corp DE now owns 1,484,863 shares of the company's stock worth $904,000 after buying an additional 104,900 shares during the period. U S Global Investors Inc. purchased a new stake in Fury Gold Mines during the first quarter worth approximately $214,000. Finally, Caisse de depot et placement du Quebec acquired a new stake in shares of Fury Gold Mines in the second quarter worth $1,589,000. 12.14% of the stock is currently owned by institutional investors and hedge funds.

Fury Gold Mines Company Profile

Fury Gold Mines Limited is a Canadian mineral exploration and development company focused on discovering and advancing gold deposits. The company is listed on the NYSE American and the Toronto Stock Exchange under the symbol FURY.

Fury's principal assets include the Eau Claire gold project in Quebec's James Bay region and the Committee Bay gold project in Nunavut. Eau Claire is an advanced exploration project with a defined gold resource, while Committee Bay covers a large, prospective land package in the Kitikmeot region.

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