New Found Gold (NYSE:NFGC) Trading 5.8% Higher

New Found Gold Corp. (NYSE:NFGC) shares were up 5.8% on Tuesday . The company traded as high as $2.57 and last traded at $2.57. Approximately 159,827 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 370,711 shares. The stock had previously closed at $2.43.

New Found Gold Stock Up 3.7 %

The stock has a 50-day moving average of $2.76 and a 200 day moving average of $3.22. The stock has a market cap of $517.95 million, a PE ratio of -8.63 and a beta of 1.11.

New Found Gold (NYSE:NFGC) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter. Research analysts forecast 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 modified their holdings of the stock. Quadrature Capital Ltd purchased a new stake in New Found Gold in the fourth quarter valued at $38,000. 1832 Asset Management L.P. purchased a new stake in shares of New Found Gold in the 2nd quarter valued at about $71,000. Cetera Advisors LLC acquired a new stake in shares of New Found Gold in the 1st quarter valued at about $93,000. LGT Fund Management Co Ltd. purchased a new position in shares of New Found Gold during the second quarter worth approximately $113,000. Finally, Rathbones Group PLC purchased a new position in New Found Gold during the 2nd quarter worth $145,000. Hedge funds and other institutional investors 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.