New Found Gold Corp. (NYSE:NFGC – Get Free Report)’s stock price rose 2.9% on Wednesday . The stock traded as high as $1.83 and last traded at $1.80. Approximately 671,850 shares changed hands during trading, an increase of 82% from the average daily volume of 369,363 shares. The stock had previously closed at $1.75.
New Found Gold Trading Up 2.4 %
The company’s fifty day simple moving average is $1.73 and its 200-day simple moving average is $2.21. The stock has a market cap of $346.80 million, a P/E ratio of -7.86 and a beta of 0.97.
Institutional Trading of New Found Gold
Several institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in New Found Gold during the 2nd quarter worth about $637,000. XTX Topco Ltd bought a new position in New Found Gold in the 3rd quarter valued at $103,000. Van ECK Associates Corp increased its stake in shares of New Found Gold by 2.5% in the 3rd quarter. Van ECK Associates Corp now owns 5,469,511 shares of the company’s stock valued at $13,757,000 after buying an additional 132,063 shares during the period. HM Payson & Co. raised its position in shares of New Found Gold by 31.5% during the third quarter. HM Payson & Co. now owns 101,000 shares of the company’s stock worth $256,000 after acquiring an additional 24,180 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of New Found Gold during the third quarter worth $79,000. Institutional investors and hedge funds 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; and the Kingsway project located in Gander, Newfoundland.
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