New Found Gold Corp. (NYSE:NFGC – Get Free Report)’s share price crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $1.67 and traded as high as $1.72. New Found Gold shares last traded at $1.72, with a volume of 1,170,536 shares changing hands.
New Found Gold Stock Up 4.9%
The firm’s fifty day moving average price is $1.67 and its 200 day moving average price is $1.95. The stock has a market cap of $663.80 million, a PE ratio of -7.82 and a beta of 1.36.
Institutional Trading of New Found Gold
Several hedge funds have recently bought and sold shares of NFGC. SG Americas Securities LLC bought a new position in shares of New Found Gold during the 1st quarter valued at about $28,000. Hsbc Holdings PLC bought a new stake in shares of New Found Gold in the second quarter worth about $32,000. Osterweis Capital Management Inc. bought a new stake in shares of New Found Gold in the second quarter worth about $48,000. StoneX Group Inc. lifted its position in shares of New Found Gold by 196.7% in the third quarter. StoneX Group Inc. now owns 43,840 shares of the company’s stock worth $72,000 after buying an additional 29,062 shares in the last quarter. Finally, Periscope Capital Inc. purchased a new stake in shares of New Found Gold in the second quarter worth about $115,763. Hedge funds and other institutional investors own 3.43% of the company’s stock.
New Found Gold Company Profile
New Found Gold Corp. is a Canadian mineral exploration company focused on the discovery and development of gold deposits. The company’s principal asset is the Queensway Project, a large, wholly owned exploration property in Newfoundland, Canada.
The Queensway Project is located near the Trans-Canada Highway and the town of Gander, providing access to established transportation and service infrastructure. New Found Gold conducts drilling, geological evaluation, and related exploration activities to identify and assess gold mineralization across the property.
The company is an exploration-stage business and does not currently operate producing mines or sell finished products.
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