Jane Street Group LLC Sells 16,827 Shares of New Found Gold Corp. (NYSE:NFGC)

Jane Street Group LLC reduced its holdings in shares of New Found Gold Corp. (NYSE:NFGC) by 38.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,720 shares of the company’s stock after selling 16,827 shares during the quarter. Jane Street Group LLC’s holdings in New Found Gold were worth $48,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of New Found Gold in the fourth quarter valued at about $34,000. Marshall Wace LLP lifted its holdings in New Found Gold by 29.4% during the fourth quarter. Marshall Wace LLP now owns 693,533 shares of the company’s stock worth $1,262,000 after acquiring an additional 157,749 shares during the period. Sprott Inc. bought a new stake in New Found Gold during the fourth quarter worth $178,000. Renaissance Technologies LLC increased its position in New Found Gold by 29.1% in the fourth quarter. Renaissance Technologies LLC now owns 667,053 shares of the company’s stock worth $1,214,000 after buying an additional 150,253 shares during the last quarter. Finally, National Bank of Canada FI increased its position in New Found Gold by 58.8% in the fourth quarter. National Bank of Canada FI now owns 41,182 shares of the company’s stock worth $74,000 after buying an additional 15,256 shares during the last quarter. 3.43% of the stock is currently owned by institutional investors.

New Found Gold Stock Up 2.0%

Shares of NFGC stock opened at $1.52 on Tuesday. The business has a 50-day moving average price of $1.23 and a two-hundred day moving average price of $1.54. New Found Gold Corp. has a 12-month low of $0.93 and a 12-month high of $3.65. The firm has a market cap of $305.15 million, a P/E ratio of -6.91 and a beta of 1.35.

Wall Street Analyst Weigh In

Separately, Roth Mkm reduced their price target on New Found Gold from $9.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, March 10th.

About New Found Gold

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; and the Kingsway project located in Gander, Newfoundland.