New Found Gold (NYSE:NFGC) Trading Down 2.2%

New Found Gold Corp. (NYSE:NFGC) shares fell 2.2% on Tuesday . The stock traded as low as $2.68 and last traded at $2.70. 95,633 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 371,379 shares. The stock had previously closed at $2.76.

New Found Gold Stock Down 2.9 %

The business has a 50-day simple moving average of $2.75 and a 200-day simple moving average of $3.21. The stock has a market cap of $515.06 million, a P/E ratio of -8.90 and a beta of 1.11.

New Found Gold (NYSE:NFGC) last released its earnings results on Friday, August 9th. The company reported ($0.05) earnings per share for the quarter. On average, analysts predict that New Found Gold Corp. will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Found Gold

A number of institutional investors have recently bought and sold shares of NFGC. 1832 Asset Management L.P. acquired a new position in New Found Gold in the fourth quarter worth about $88,000. Quadrature Capital Ltd acquired a new position in New Found Gold in the fourth quarter worth $38,000. Van ECK Associates Corp increased its stake in shares of New Found Gold by 1.4% in the first quarter. Van ECK Associates Corp now owns 4,875,257 shares of the company’s stock valued at $17,967,000 after buying an additional 69,342 shares in the last quarter. Virtu Financial LLC bought a new position in shares of New Found Gold in the first quarter valued at about $186,000. Finally, Cetera Advisors LLC acquired a new position in New Found Gold during the 1st quarter worth about $93,000. 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.