Fury Gold Mines (NYSEAMERICAN:FURY) Trading Down 1.5% - Should You Sell?

Key Points

• Fury Gold Mines fell 1.5% to $0.5650, with trading volume down 33% from its average. The company has a market capitalization of approximately $107.4 million.
• Analysts maintain a cautiously positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $1.90, despite HC Wainwright lowering its target from $2.00.
• Institutional ownership stands at 12.14%, with several funds—including Bank of America and Caisse de dépôt et placement du Québec—recently initiating positions. Fury is focused on gold exploration projects in Quebec and Nunavut.

Fury Gold Mines Limited (NYSEAMERICAN:FURY - Get Free Report) fell 1.5% on Monday . The stock traded as low as $0.5611 and last traded at $0.5650. 189,401 shares changed hands during trading, a decline of 33% from the average session volume of 281,723 shares. The stock had previously closed at $0.5735.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FURY. UBS Group set a $1.90 target price on Fury Gold Mines in a report on Monday, August 24th. HC Wainwright reduced their price target on Fury Gold Mines from $2.00 to $1.90 and set a "buy" rating on the stock in a report on Monday, August 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1.90.

Fury Gold Mines Stock Performance

The company has a fifty day simple moving average of $0.58 and a 200 day simple moving average of $0.58. The stock has a market capitalization of $107.42 million, a price-to-earnings ratio of -3.77 and a beta of 0.78.

Hedge Funds Weigh In On Fury Gold Mines

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new position in Fury Gold Mines during the second quarter worth $456,000. Caisse de depot et placement du Quebec bought a new stake in Fury Gold Mines during the second quarter valued at $1,589,000. Cibc World Market Inc. bought a new position in shares of Fury Gold Mines in the 2nd quarter worth about $52,000. Ashford Capital Management Inc. raised its position in shares of Fury Gold Mines by 2.2% in the 1st quarter. Ashford Capital Management Inc. now owns 3,730,015 shares of the company's stock worth $2,272,000 after acquiring an additional 80,000 shares in the last quarter. Finally, U S Global Investors Inc. acquired a new stake in Fury Gold Mines during the first quarter worth approximately $214,000. 12.14% of the stock is owned by institutional investors and hedge funds.

About Fury Gold Mines

Fury Gold Mines Limited is a Canadian mineral exploration company focused on the discovery and advancement of gold deposits in Canada. The company's activities include acquiring, exploring and evaluating mineral properties, with work generally centered on geological mapping, drilling and resource development rather than the production or sale of gold.

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-stage exploration project, while Committee Bay is a large-scale exploration property covering prospective ground in the Kitikmeot region of Nunavut.

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