Van ECK Associates Corp Has $16.95 Million Position in New Found Gold Corp. (NYSE:NFGC)

Van ECK Associates Corp grew its position in New Found Gold Corp. (NYSE:NFGC) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,805,915 shares of the company’s stock after acquiring an additional 348,520 shares during the period. Van ECK Associates Corp owned 2.57% of New Found Gold worth $16,948,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Sprott Inc. bought a new stake in shares of New Found Gold during the third quarter worth $52,000. HM Payson & Co. lifted its stake 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 bought a new stake in shares of New Found Gold in the third quarter worth $198,000. Finally, Raymond James Financial Services Advisors Inc. lifted its position in New Found Gold by 20.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 19,500 shares of the company’s stock worth $81,000 after buying an additional 3,276 shares in the last quarter. Institutional investors own 3.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reiterated a “buy” rating and set a $9.00 price objective on shares of New Found Gold in a research note on Tuesday, April 23rd.

New Found Gold Price Performance

Shares of New Found Gold stock opened at $3.56 on Thursday. The business has a fifty day simple moving average of $3.56 and a two-hundred day simple moving average of $3.56. 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) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Sell-side analysts predict that New Found Gold Corp. will post -0.31 EPS for the current 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.