New Found Gold (NYSE:NFGC) Shares Gap Up to $4.12

New Found Gold Corp. (NYSE:NFGC – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $4.12, but opened at $4.23. New Found Gold shares last traded at $4.20, with a volume of 18,773 shares.

New Found Gold Trading Up 5.1 %

The company has a market capitalization of $759.40 million, a PE ratio of -11.39 and a beta of 1.19. The stock has a fifty day simple moving average of $3.77 and a 200-day simple moving average of $3.77.

Institutional Trading of New Found Gold

Several institutional investors and hedge funds have recently made changes to their positions in NFGC. Regal Partners Ltd purchased a new stake in shares of New Found Gold in the 4th quarter valued at about $1,483,000. Integrated Advisors Network LLC lifted its holdings in shares of New Found Gold by 29.7% in the 4th quarter. Integrated Advisors Network LLC now owns 599,190 shares of the company’s stock valued at $2,421,000 after purchasing an additional 137,100 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of New Found Gold by 3.8% in the 3rd quarter. Van ECK Associates Corp now owns 3,520,800 shares of the company’s stock valued at $12,449,000 after purchasing an additional 129,709 shares during the last quarter. Millennium Management LLC raised its stake in New Found Gold by 110.6% during the 4th quarter. Millennium Management LLC now owns 212,968 shares of the company’s stock valued at $859,000 after acquiring an additional 111,824 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in New Found Gold during the 4th quarter valued at approximately $214,000. 22.12% of the stock is owned by hedge funds and other institutional investors.

New Found Gold Company Profile

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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 86 mineral licenses and 6,041 claims covering an area of 151,030 hectares of land located near Gander, Newfoundland; and the Lucky Strike project comprising 11,684 hectares located in Kirkland Lake, Ontario.