Raymond James Financial Services Advisors Inc. Sells 9,000 Shares of New Found Gold Corp. (NYSE:NFGC)

Raymond James Financial Services Advisors Inc. lessened its stake in shares of New Found Gold Corp. (NYSE:NFGC) by 46.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,500 shares of the company’s stock after selling 9,000 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in New Found Gold were worth $37,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NFGC. National Bank of Canada FI lifted its stake in shares of New Found Gold by 370.4% in the third quarter. National Bank of Canada FI now owns 19,050 shares of the company’s stock valued at $74,000 after buying an additional 15,000 shares in the last quarter. HM Payson & Co. lifted its position in New Found Gold by 144.3% in the 3rd quarter. HM Payson & Co. now owns 7,000 shares of the company’s stock valued at $29,000 after acquiring an additional 4,135 shares in the last quarter. Rathbones Group PLC acquired a new position in New Found Gold during the 3rd quarter valued at about $198,000. Finally, Sprott Inc. bought a new stake in New Found Gold during the 3rd quarter worth approximately $52,000. 3.43% of the stock is currently owned by institutional investors and hedge funds.

New Found Gold Price Performance

NYSE NFGC opened at $3.72 on Friday. The company has a fifty day moving average price of $3.54 and a 200-day moving average price of $3.57. The firm has a market cap of $708.62 million, a price-to-earnings ratio of -11.27 and a beta of 1.22. New Found Gold Corp. has a 1 year low of $3.02 and a 1 year high of $5.27.

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

Wall Street Analysts Forecast Growth

Separately, Roth Mkm restated a “buy” rating and issued a $9.00 target price on shares of New Found Gold in a report on Tuesday.

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.