New Found Gold’s (NFGC) “Buy” Rating Reaffirmed at Roth Mkm

Roth Mkm reiterated their buy rating on shares of New Found Gold (NYSE:NFGC) in a report issued on Tuesday, Benzinga reports. They currently have a $9.00 price objective on the stock.

New Found Gold Stock Up 0.3 %

NFGC stock opened at $3.72 on Tuesday. The company has a market cap of $708.62 million, a PE ratio of -11.27 and a beta of 1.22. New Found Gold has a 52 week low of $3.02 and a 52 week high of $5.27. The business has a 50-day simple moving average of $3.54 and a 200 day simple moving average of $3.57.

New Found Gold (NYSE:NFGC) last issued its earnings results on Thursday, March 21st. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). On average, analysts anticipate that New Found Gold will post -0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. raised its stake in New Found Gold by 20.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 19,500 shares of the company’s stock worth $81,000 after acquiring an additional 3,276 shares in the last quarter. HM Payson & Co. grew its holdings in shares of New Found Gold by 144.3% during the third quarter. HM Payson & Co. now owns 7,000 shares of the company’s stock worth $29,000 after purchasing an additional 4,135 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of New Found Gold during the fourth quarter worth about $38,000. Sprott Inc. bought a new stake in shares of New Found Gold during the third quarter worth about $52,000. Finally, National Bank of Canada FI grew its holdings in shares of New Found Gold by 370.4% during the third quarter. National Bank of Canada FI now owns 19,050 shares of the company’s stock worth $74,000 after purchasing an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 3.43% of the company’s stock.

About New Found Gold

New Found Gold Corp., a mineral exploration company, engages in the identification, acquisition, and exploration of mineral properties in the Provinces of Newfoundland and Labrador, and Ontario. The company primarily explores for gold deposit. It holds 100% interests in the Queensway project that includes 94 mineral licenses and 6,649 claims covering an area of 166,225 hectares of land located near Gander, Newfoundland; and the Lucky Strike project comprising 11,684 hectares located in Kirkland Lake, Ontario.