Two Sigma Investments LP Lowers Position in New Found Gold Corp. (NYSE:NFGC)

Two Sigma Investments LP lessened its stake in New Found Gold Corp. (NYSE:NFGC) by 49.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,785 shares of the company’s stock after selling 84,268 shares during the period. Two Sigma Investments LP’s holdings in New Found Gold were worth $158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the company. Sprott Inc. acquired a new position in shares of New Found Gold during the fourth quarter worth $178,000. Raymond James Financial Inc. purchased a new position in New Found Gold during the 4th quarter worth $34,000. National Bank of Canada FI increased its position in New Found Gold by 58.8% during the 4th quarter. National Bank of Canada FI now owns 41,182 shares of the company’s stock valued at $74,000 after buying an additional 15,256 shares in the last quarter. Aristides Capital LLC acquired a new position in New Found Gold during the 4th quarter valued at about $75,000. Finally, Bank of Montreal Can raised its stake in New Found Gold by 7.6% in the fourth quarter. Bank of Montreal Can now owns 85,430 shares of the company’s stock valued at $154,000 after buying an additional 5,998 shares during the last quarter. Institutional investors own 3.43% of the company’s stock.

New Found Gold Trading Up 4.1%

NYSE:NFGC opened at $1.54 on Friday. New Found Gold Corp. has a twelve month low of $0.93 and a twelve month high of $3.65. The company has a market cap of $309.17 million, a PE ratio of -7.00 and a beta of 1.35. The company’s 50 day moving average is $1.26 and its two-hundred day moving average is $1.54.

Wall Street Analyst Weigh In

Separately, Roth Mkm dropped their price target on New Found Gold from $9.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, March 10th.

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.