FY2024 EPS Estimates for New Found Gold Corp. Boosted by Roth Capital (NYSE:NFGC)

New Found Gold Corp. (NYSE:NFGC) – Research analysts at Roth Capital raised their FY2024 earnings per share estimates for New Found Gold in a note issued to investors on Monday, June 17th. Roth Capital analyst M. Niehuser now forecasts that the company will post earnings per share of ($0.25) for the year, up from their prior estimate of ($0.27). The consensus estimate for New Found Gold’s current full-year earnings is ($0.31) per share. Roth Capital also issued estimates for New Found Gold’s FY2025 earnings at ($0.25) EPS.

New Found Gold (NYSE:NFGC) last issued 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.

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

New Found Gold Stock Down 0.6 %

NFGC opened at $3.14 on Wednesday. New Found Gold has a 12-month low of $3.02 and a 12-month high of $5.27. The business has a 50 day moving average of $3.56 and a 200-day moving average of $3.47.

Institutional Trading of New Found Gold

Several hedge funds have recently added to or reduced their stakes in the company. Cetera Advisors LLC acquired a new stake in New Found Gold during the 1st quarter worth approximately $93,000. Virtu Financial LLC acquired a new stake in New Found Gold during the 1st quarter worth approximately $186,000. Quadrature Capital Ltd lifted its holdings in New Found Gold by 72.9% during the 1st quarter. Quadrature Capital Ltd now owns 18,553 shares of the company’s stock worth $68,000 after purchasing an additional 7,821 shares during the last quarter. Van ECK Associates Corp lifted its holdings in New Found Gold by 1.4% during the 1st quarter. Van ECK Associates Corp now owns 4,875,257 shares of the company’s stock worth $17,967,000 after purchasing an additional 69,342 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new stake in New Found Gold during the 4th quarter worth approximately $88,000. 3.43% of the stock is owned by institutional investors and hedge funds.

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.