New Found Gold Corp. (NYSE:NFGC - Get Free Report)'s share price shot up 2.9% during trading on Wednesday . The stock traded as high as $1.83 and last traded at $1.80. 671,850 shares traded hands during trading, an increase of 82% from the average session volume of 369,363 shares. The stock had previously closed at $1.75.
New Found Gold Stock Performance
The firm has a market cap of $346.80 million, a P/E ratio of -7.86 and a beta of 0.97. The company has a 50-day moving average of $1.73 and a 200 day moving average of $2.19.
Hedge Funds Weigh In On New Found Gold
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of New Found Gold during the 4th quarter worth approximately $34,000. Sprott Inc. bought a new position in shares of New Found Gold during the 4th quarter worth approximately $178,000. Toronto Dominion Bank raised its position in New Found Gold by 10,700.5% in the 3rd quarter. Toronto Dominion Bank now owns 21,493 shares of the company's stock valued at $54,000 after purchasing an additional 21,294 shares during the last quarter. XTX Topco Ltd bought a new position in New Found Gold in the 3rd quarter valued at $103,000. Finally, National Bank of Canada FI raised its position 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 purchasing an additional 5,476 shares during the last quarter. Institutional investors own 3.43% of the company's stock.
New Found Gold Company Profile
(
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; and the Kingsway project located in Gander, Newfoundland.
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