Cibc World Market Inc. Invests $119,000 in New Found Gold Corp. (NYSE:NFGC)

Cibc World Market Inc. bought a new position in New Found Gold Corp. (NYSE:NFGCGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 26,500 shares of the company’s stock, valued at approximately $119,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NFGC. SeaCrest Wealth Management LLC bought a new stake in shares of New Found Gold in the 2nd quarter worth about $31,000. Glassman Wealth Services bought a new stake in shares of New Found Gold in the 2nd quarter worth about $38,000. Cannell & Co. acquired a new position in shares of New Found Gold in the 2nd quarter valued at about $45,000. Bank of America Corp DE acquired a new position in shares of New Found Gold in the 1st quarter valued at about $56,000. Finally, Scotia Capital Inc. boosted its holdings in shares of New Found Gold by 19.9% in the 2nd quarter. Scotia Capital Inc. now owns 19,000 shares of the company’s stock valued at $85,000 after buying an additional 3,151 shares during the period. Institutional investors own 22.17% of the company’s stock.

New Found Gold Price Performance

NYSE NFGC opened at 3.78 on Friday. New Found Gold Corp. has a one year low of 2.92 and a one year high of 7.65. The firm has a 50-day simple moving average of 3.61. The firm has a market cap of $638.90 million, a price-to-earnings ratio of -9.95 and a beta of 1.08.

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 86 mineral licenses and 6,041 claims covering an area of 151,030 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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Institutional Ownership by Quarter for New Found Gold (NYSE:NFGC)

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