New Found Gold (NYSE:NFGC) Trading Up 12.9% – Time to Buy?

by · The Cerbat Gem

New Found Gold Corp. (NYSE:NFGC – Get Free Report)’s stock price rose 12.9% during trading on Monday . The company traded as high as $2.63 and last traded at $2.7220. Approximately 486,700 shares traded hands during trading, a decline of 56% from the average daily volume of 1,111,088 shares. The stock had previously closed at $2.41.

New Found Gold Stock Performance

The firm has a market capitalization of $689.27 million, a P/E ratio of -12.93 and a beta of 1.35. The firm has a 50 day moving average price of $2.22 and a two-hundred day moving average price of $1.82.

Institutional Trading of New Found Gold

A number of hedge funds have recently bought and sold shares of NFGC. XTX Topco Ltd acquired a new position in shares of New Found Gold in the 1st quarter valued at about $25,000. Midwest Trust Co acquired a new position in New Found Gold in the 2nd quarter valued at approximately $28,000. R Squared Ltd lifted its position in New Found Gold by 66.6% in the 3rd quarter. R Squared Ltd now owns 18,072 shares of the company’s stock worth $43,000 after buying an additional 7,222 shares in the last quarter. Waterloo Capital L.P. purchased a new position in shares of New Found Gold during the 3rd quarter valued at $47,000. Finally, Virtu Financial LLC purchased a new stake in shares of New Found Gold during the first quarter worth $52,000. 3.43% of the stock is owned by hedge funds and other institutional investors.

About New Found Gold

(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.

See Also