New Found Gold (NYSE:NFGC - Free Report) had its target price cut by Roth Mkm from $9.00 to $5.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.
New Found Gold Price Performance
NYSE NFGC traded down $0.04 on Monday, hitting $1.80. 337,451 shares of the company were exchanged, compared to its average volume of 485,421. The company's 50 day moving average price is $1.78 and its 200-day moving average price is $2.05. The firm has a market capitalization of $359.82 million, a P/E ratio of -8.16 and a beta of 0.93. New Found Gold has a twelve month low of $1.51 and a twelve month high of $4.15.
Hedge Funds Weigh In On New Found Gold
Large investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new position in shares of New Found Gold in the 3rd quarter valued at about $103,000. Sprott Inc. acquired a new position in shares of New Found Gold in the 4th quarter valued at about $178,000. Quadrature Capital Ltd acquired a new position in shares of New Found Gold in the 3rd quarter valued at about $79,000. Atom Investors LP acquired a new position in shares of New Found Gold in the 3rd quarter valued at about $87,000. Finally, Raymond James Financial Inc. acquired a new position in shares of New Found Gold in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 3.43% of the company's stock.
New Found Gold Company Profile
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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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