854,200 Shares in New Found Gold Corp. $NFGC Bought by Heartland Advisors Inc.

Heartland Advisors Inc. purchased a new position in New Found Gold Corp. (NYSE:NFGC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 854,200 shares of the company’s stock, valued at approximately $1,315,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cladis Investment Advisory LLC purchased a new position in shares of New Found Gold in the fourth quarter worth about $30,000. Hsbc Holdings PLC purchased a new position in New Found Gold in the 4th quarter worth approximately $39,000. SG Americas Securities LLC bought a new stake in New Found Gold in the first quarter valued at approximately $28,000. Oppenheimer & Co. Inc. purchased a new stake in shares of New Found Gold during the fourth quarter valued at approximately $48,000. Finally, Periscope Capital Inc. purchased a new stake in shares of New Found Gold during the fourth quarter valued at approximately $52,000. 3.43% of the stock is owned by institutional investors.

New Found Gold Price Performance

Shares of NYSE:NFGC opened at $1.84 on Friday. The stock’s 50-day moving average is $1.55 and its 200 day moving average is $1.98. The company has a market cap of $708.76 million, a PE ratio of -8.36 and a beta of 1.40. New Found Gold Corp. has a 1 year low of $1.34 and a 1 year high of $3.59.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of New Found Gold from a “strong sell” rating to a “hold” rating in a research note on Friday, July 3rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

New Found Gold Profile

New Found Gold Corporation is a Canadian mineral exploration company focused on the discovery and advancement of gold deposits in eastern Canada. The company’s principal asset is the Queensway Project, located in the Central Newfoundland gold belt, a region renowned for high-grade orogenic gold systems. New Found Gold employs systematic drilling and geophysical surveying to delineate multiple high-potential zones along a 25-kilometre strike corridor, targeting both near-surface and deeper structural targets.

The Queensway Project has garnered attention for its visible gold-bearing quartz veins and robust drill intercepts, which have extended known mineralized zones and uncovered new targets.