97,900 Shares in New Found Gold Corp. (NYSE:NFGC) Bought by Sprott Inc.

Sprott Inc. bought a new position in shares of New Found Gold Corp. (NYSE:NFGC) during the fourth quarter, Holdings Channel reports. The fund bought 97,900 shares of the company’s stock, valued at approximately $178,000.

Several other hedge funds have also modified their holdings of the stock. National Bank of Canada FI lifted its position in shares of New Found Gold by 26.8% in the 3rd quarter. National Bank of Canada FI now owns 25,926 shares of the company’s stock valued at $66,000 after acquiring an additional 5,476 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of New Found Gold by 10,700.5% in the third quarter. Toronto Dominion Bank now owns 21,493 shares of the company’s stock valued at $54,000 after purchasing an additional 21,294 shares in the last quarter. HM Payson & Co. boosted its position in shares of New Found Gold by 31.5% in the third quarter. HM Payson & Co. now owns 101,000 shares of the company’s stock worth $256,000 after buying an additional 24,180 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of New Found Gold in the third quarter worth $79,000. Finally, Atom Investors LP purchased a new position in shares of New Found Gold during the third quarter valued at $87,000. 3.43% of the stock is owned by hedge funds and other institutional investors.

New Found Gold Trading Up 4.9 %

Shares of New Found Gold stock opened at $1.93 on Thursday. New Found Gold Corp. has a 1 year low of $1.51 and a 1 year high of $4.15. The company has a market cap of $386.88 million, a P/E ratio of -8.77 and a beta of 0.97. The stock has a 50-day moving average price of $1.76 and a 200 day moving average price of $2.13.

New Found Gold 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; and the Kingsway project located in Gander, Newfoundland.