Renaissance Technologies LLC Purchases New Holdings in New Found Gold Corp. (NYSE:NFGC)

Renaissance Technologies LLC purchased a new stake in New Found Gold Corp. (NYSE:NFGC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 225,119 shares of the company’s stock, valued at approximately $637,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NFGC. Van ECK Associates Corp increased its holdings in shares of New Found Gold by 9.5% in the second quarter. Van ECK Associates Corp now owns 5,337,448 shares of the company’s stock valued at $15,061,000 after purchasing an additional 462,191 shares in the last quarter. Rathbones Group PLC acquired a new stake in shares of New Found Gold in the second quarter valued at approximately $145,000. Virtu Financial LLC acquired a new stake in shares of New Found Gold in the first quarter valued at approximately $186,000. LGT Fund Management Co Ltd. acquired a new stake in shares of New Found Gold in the second quarter valued at approximately $113,000. Finally, HM Payson & Co. boosted its stake in New Found Gold by 213.3% in the first quarter. HM Payson & Co. now owns 47,000 shares of the company’s stock valued at $174,000 after acquiring an additional 32,000 shares during the last quarter. Institutional investors and hedge funds own 3.43% of the company’s stock.

New Found Gold Stock Performance

Shares of NFGC stock opened at $2.36 on Thursday. New Found Gold Corp. has a 52-week low of $2.27 and a 52-week high of $4.60. The stock has a market cap of $455.26 million, a PE ratio of -7.90 and a beta of 1.11. The firm’s 50 day moving average price is $2.64 and its two-hundred day moving average price is $3.11.

New Found Gold (NYSE:NFGC) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter. As a group, sell-side analysts predict that New Found Gold Corp. will post -0.3 earnings per share for the current fiscal 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.