New Found Gold (NYSE:NFGC) Trading Down 4%

Shares of New Found Gold Corp. (NYSE:NFGC) were down 4% on Friday . The stock traded as low as $2.66 and last traded at $2.66. Approximately 83,069 shares were traded during trading, a decline of 79% from the average daily volume of 391,006 shares. The stock had previously closed at $2.77.

New Found Gold Stock Down 5.1 %

The firm has a fifty day moving average of $2.68 and a 200-day moving average of $3.18. The firm has a market cap of $522.95 million, a P/E ratio of -9.23 and a beta of 1.11.

New Found Gold (NYSE:NFGC) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.05) EPS for the quarter. On average, equities analysts forecast that New Found Gold Corp. will post -0.3 EPS for the current year.

Institutional Trading of New Found Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 1832 Asset Management L.P. bought a new stake in shares of New Found Gold during the fourth quarter valued at about $88,000. Quadrature Capital Ltd bought a new position in New Found Gold in the fourth quarter worth $38,000. Van ECK Associates Corp increased its holdings in shares of New Found Gold by 1.4% during the first quarter. Van ECK Associates Corp now owns 4,875,257 shares of the company’s stock valued at $17,967,000 after acquiring an additional 69,342 shares in the last quarter. Virtu Financial LLC bought a new position in shares of New Found Gold during the first quarter valued at $186,000. Finally, Cetera Advisors LLC bought a new stake in New Found Gold in the 1st quarter worth about $93,000. 3.43% of the stock is owned by institutional investors.

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.