HM Payson & Co. Buys 24,180 Shares of New Found Gold Corp. (NYSE:NFGC)

HM Payson & Co. raised its stake in shares of New Found Gold Corp. (NYSE:NFGC) by 31.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 101,000 shares of the company’s stock after purchasing an additional 24,180 shares during the period. HM Payson & Co.’s holdings in New Found Gold were worth $256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quadrature Capital Ltd increased its position in shares of New Found Gold by 72.9% during the 1st quarter. Quadrature Capital Ltd now owns 18,553 shares of the company’s stock valued at $68,000 after purchasing an additional 7,821 shares during the last quarter. 1832 Asset Management L.P. bought a new position in New Found Gold during the second quarter valued at approximately $71,000. Cetera Advisors LLC bought a new position in New Found Gold during the first quarter valued at approximately $93,000. LGT Fund Management Co Ltd. purchased a new position in shares of New Found Gold during the second quarter worth approximately $113,000. Finally, Virtu Financial LLC bought a new stake in shares of New Found Gold in the 1st quarter worth approximately $186,000. Hedge funds and other institutional investors own 3.43% of the company’s stock.

New Found Gold Stock Performance

Shares of New Found Gold stock opened at $2.23 on Friday. New Found Gold Corp. has a 52-week low of $2.18 and a 52-week high of $4.15. The company has a fifty day moving average of $2.56 and a 200-day moving average of $2.96. The stock has a market capitalization of $442.42 million, a price-to-earnings ratio of -7.95 and a beta of 1.11.

New Found Gold (NYSE:NFGC) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter. On average, equities research analysts forecast that New Found Gold Corp. will post -0.28 earnings per share for the current fiscal year.

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.