Roth Capital Increases Earnings Estimates for New Found Gold

New Found Gold Corp. (NYSE:NFGC - Free Report) - Roth Capital boosted their FY2024 earnings per share estimates for New Found Gold in a report issued on Tuesday, December 24th. Roth Capital analyst M. Niehuser now expects that the company will post earnings of ($0.19) per share for the year, up from their prior forecast of ($0.23). The consensus estimate for New Found Gold's current full-year earnings is ($0.28) per share. Roth Capital also issued estimates for New Found Gold's Q4 2024 earnings at ($0.06) EPS and FY2025 earnings at ($0.23) EPS.

New Found Gold Stock Performance

NYSE NFGC traded up $0.06 during trading on Friday, hitting $1.75. The stock had a trading volume of 372,020 shares, compared to its average volume of 427,301. New Found Gold has a 12 month low of $1.51 and a 12 month high of $4.15. The company's 50-day moving average price is $1.92 and its two-hundred day moving average price is $2.47. The company has a market capitalization of $348.09 million, a PE ratio of -7.95 and a beta of 1.00.

Institutional Trading of New Found Gold

A number of hedge funds and other institutional investors have recently modified their holdings of NFGC. Toronto Dominion Bank raised its stake in New Found Gold by 10,700.5% in the third quarter. Toronto Dominion Bank now owns 21,493 shares of the company's stock valued at $54,000 after buying an additional 21,294 shares during the period. 1832 Asset Management L.P. acquired a new position in shares of New Found Gold during the 2nd quarter worth approximately $71,000. National Bank of Canada FI raised its stake in New Found Gold by 26.8% in the 3rd quarter. National Bank of Canada FI now owns 25,926 shares of the company's stock valued at $66,000 after acquiring an additional 5,476 shares during the period. Quadrature Capital Ltd acquired a new stake in New Found Gold during the 3rd quarter valued at $79,000. Finally, Atom Investors LP bought a new position in New Found Gold during the third quarter worth $87,000. Institutional investors and hedge funds own 3.43% of the company's stock.

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; and the Kingsway project located in Gander, Newfoundland.