Heartland Advisors Inc. Buys New Position in New Found Gold Corp. $NFGC

Heartland Advisors Inc. purchased a new position in shares of New Found Gold Corp. (NYSE:NFGC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 257,700 shares of the company’s stock, valued at approximately $611,000. Heartland Advisors Inc. owned 0.11% of New Found Gold as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Waterloo Capital L.P. acquired a new position in shares of New Found Gold in the 3rd quarter valued at $47,000. Midwest Trust Co purchased a new position in New Found Gold during the 2nd quarter worth $28,000. Quadrature Capital Ltd acquired a new position in New Found Gold in the second quarter valued at $82,000. Hollencrest Capital Management acquired a new stake in shares of New Found Gold during the third quarter worth about $225,000. Finally, Timelo Investment Management Inc. purchased a new position in shares of New Found Gold during the second quarter worth about $254,000. 3.43% of the stock is owned by institutional investors and hedge funds.

New Found Gold Stock Down 4.1%

Shares of NFGC stock opened at $2.59 on Wednesday. The stock’s 50-day moving average price is $2.98 and its 200 day moving average price is $2.42. The stock has a market capitalization of $629.70 million, a PE ratio of -11.77 and a beta of 1.31. New Found Gold Corp. has a 52-week low of $0.93 and a 52-week high of $3.59.

New Found Gold Company 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.