New Found Gold Corp. (NYSE:NFGC) Shares Purchased by Cannell & Co.

Cannell & Co. raised its position in New Found Gold Corp. (NYSE:NFGC) by 50.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Cannell & Co.’s holdings in New Found Gold were worth $148,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE purchased a new stake in shares of New Found Gold during the 1st quarter valued at approximately $56,000. Virtu Financial LLC purchased a new stake in New Found Gold in the second quarter valued at $71,000. Millennium Management LLC raised its position in New Found Gold by 176.3% in the second quarter. Millennium Management LLC now owns 149,820 shares of the company’s stock valued at $673,000 after purchasing an additional 95,604 shares during the period. Royal Bank of Canada lifted its stake in shares of New Found Gold by 45.3% in the 3rd quarter. Royal Bank of Canada now owns 14,833 shares of the company’s stock valued at $52,000 after purchasing an additional 4,625 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of New Found Gold during the 3rd quarter worth $36,000. 3.43% of the stock is currently owned by institutional investors and hedge funds.

New Found Gold Stock Up 4.6 %

Shares of NYSE NFGC opened at $3.61 on Wednesday. The stock has a fifty day simple moving average of $4.08 and a 200-day simple moving average of $4.44. New Found Gold Corp. has a twelve month low of $3.25 and a twelve month high of $5.70.

New Found Gold (NYSE:NFGC) last released its earnings results on Monday, August 14th. The company reported ($0.07) earnings per share for the quarter. As a group, analysts anticipate that New Found Gold Corp. will post -0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and set a $9.00 target price on shares of New Found Gold in a research note on Thursday, September 21st. Roth Capital reaffirmed a “buy” rating on shares of New Found Gold in a research report on Tuesday, August 15th.

New Found Gold Company Profile

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.