New Found Gold (NYSE:NFGC) Reaches New 12-Month Low at $2.59

New Found Gold Corp. (NYSE:NFGC) hit a new 52-week low on Thursday . The stock traded as low as $2.59 and last traded at $2.61, with a volume of 295622 shares. The stock had previously closed at $2.72.

Analyst Ratings Changes

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

New Found Gold Stock Down 4.9 %

The firm has a fifty day moving average of $3.06 and a two-hundred day moving average of $3.33.

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

Institutional Trading of New Found Gold

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp grew its stake in shares of New Found Gold by 9.5% during the 2nd quarter. Van ECK Associates Corp now owns 5,337,448 shares of the company’s stock worth $15,061,000 after purchasing an additional 462,191 shares during the period. HM Payson & Co. raised its holdings in New Found Gold by 213.3% in the 1st 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. Cetera Advisors LLC purchased a new position in New Found Gold during the first quarter worth approximately $93,000. Virtu Financial LLC acquired a new stake in New Found Gold in the first quarter valued at approximately $186,000. Finally, Quadrature Capital Ltd increased its position in shares of 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 in the last quarter. 3.43% of the stock is owned by hedge funds and other institutional investors.

About New Found Gold

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.