New Found Gold (NYSE:NFGC) Sets New 52-Week Low at $2.77

New Found Gold Corp. (NYSE:NFGC)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $2.77 and last traded at $2.78, with a volume of 128378 shares. The stock had previously closed at $2.83.

Analyst Ratings Changes

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

New Found Gold Stock Down 0.4 %

The stock’s 50-day moving average price is $3.40 and its 200 day moving average price is $3.42. The firm has a market cap of $527.03 million, a price-to-earnings ratio of -9.13 and a beta of 1.12.

New Found Gold (NYSE:NFGC) last posted its earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. On average, research analysts predict that New Found Gold Corp. will post -0.3 EPS for the current year.

Institutional Trading of New Found Gold

Hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd lifted its holdings in New Found Gold by 72.9% in the first quarter. Quadrature Capital Ltd now owns 18,553 shares of the company’s stock valued at $68,000 after buying an additional 7,821 shares during the period. Sprott Inc. acquired a new position in New Found Gold in the third quarter valued at approximately $52,000. 1832 Asset Management L.P. acquired a new stake in New Found Gold in the fourth quarter worth $88,000. Cetera Advisors LLC acquired a new stake in New Found Gold in the first quarter worth $93,000. Finally, HM Payson & Co. raised its holdings in New Found Gold by 213.3% in the first quarter. HM Payson & Co. now owns 47,000 shares of the company’s stock worth $174,000 after purchasing an additional 32,000 shares during the period. 3.43% of the stock is owned by institutional investors.

New Found Gold Company Profile

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.