New Found Gold (NYSE:NFGC) Shares Gap Down to $3.50

New Found Gold Corp. (NYSE:NFGCGet Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $3.50, but opened at $3.37. New Found Gold shares last traded at $3.38, with a volume of 14,357 shares traded.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm restated a “buy” rating and issued a $9.00 price target on shares of New Found Gold in a report on Tuesday, April 23rd.

Check Out Our Latest Stock Report on NFGC

New Found Gold Stock Performance

The stock’s 50-day moving average price is $3.65 and its 200 day moving average price is $3.50.

New Found Gold (NYSE:NFGCGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. As a group, research analysts anticipate that New Found Gold Corp. will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC purchased a new stake in shares of New Found Gold in the 1st quarter worth approximately $93,000. Virtu Financial LLC purchased a new stake in New Found Gold during the first quarter worth $186,000. Quadrature Capital Ltd increased its holdings in shares of New Found Gold by 72.9% in the 1st quarter. Quadrature Capital Ltd now owns 18,553 shares of the company’s stock valued at $68,000 after acquiring an additional 7,821 shares during the period. Van ECK Associates Corp raised its position in shares of New Found Gold by 1.4% in the 1st quarter. Van ECK Associates Corp now owns 4,875,257 shares of the company’s stock worth $17,967,000 after acquiring an additional 69,342 shares in the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in shares of New Found Gold during the 4th quarter worth $88,000. 3.43% of the stock is currently owned by institutional investors.

About New Found Gold

(Get 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.

Further Reading

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