FY2024 EPS Estimates for New Found Gold Raised by Analyst

New Found Gold Corp. (NYSE:NFGC) – Analysts at Roth Capital raised their FY2024 earnings estimates for New Found Gold in a research note issued to investors on Tuesday, December 24th. Roth Capital analyst M. Niehuser now expects that the company will earn ($0.19) per share for the year, up from their prior estimate of ($0.23). The consensus estimate for New Found Gold’s current full-year earnings is ($0.28) per share. Roth Capital also issued estimates for New Found Gold’s Q4 2024 earnings at ($0.06) EPS and FY2025 earnings at ($0.23) EPS.

New Found Gold Stock Up 5.0 %

Shares of NFGC stock opened at $1.69 on Friday. The stock’s 50-day moving average price is $1.92 and its 200 day moving average price is $2.47. The stock has a market capitalization of $336.15 million, a PE ratio of -7.68 and a beta of 1.00. New Found Gold has a 52-week low of $1.51 and a 52-week high of $4.15.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NFGC. Toronto Dominion Bank lifted its holdings in shares of New Found Gold by 10,700.5% during the third quarter. Toronto Dominion Bank now owns 21,493 shares of the company’s stock worth $54,000 after purchasing an additional 21,294 shares during the period. XTX Topco Ltd acquired a new stake in shares of New Found Gold in the 3rd quarter worth $103,000. National Bank of Canada FI boosted its holdings in shares of New Found Gold by 26.8% in the third quarter. National Bank of Canada FI now owns 25,926 shares of the company’s stock valued at $66,000 after acquiring an additional 5,476 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of New Found Gold during the third quarter worth about $79,000. Finally, Atom Investors LP purchased a new position in New Found Gold during the third quarter worth about $87,000. 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.