Marshall Wace LLP Acquires Shares of 248,394 New Found Gold Corp. (NYSE:NFGC)

Marshall Wace LLP bought a new position in shares of New Found Gold Corp. (NYSE:NFGC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 248,394 shares of the company’s stock, valued at approximately $703,000. Marshall Wace LLP owned approximately 0.13% of New Found Gold as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Quadrature Capital Ltd acquired a new stake in New Found Gold during the 4th quarter worth $38,000. 1832 Asset Management L.P. acquired a new position in New Found Gold during the second quarter worth about $71,000. Cetera Advisors LLC purchased a new stake in New Found Gold during the 1st quarter valued at about $93,000. LGT Fund Management Co Ltd. acquired a new stake in New Found Gold in the 2nd quarter valued at about $113,000. Finally, Rathbones Group PLC acquired a new stake in New Found Gold in the 2nd quarter valued at about $145,000. Institutional investors and hedge funds own 3.43% of the company’s stock.

New Found Gold Price Performance

Shares of New Found Gold stock opened at $2.41 on Wednesday. The stock’s 50 day simple moving average is $2.65 and its 200-day simple moving average is $3.12. The stock has a market cap of $463.94 million, a P/E ratio of -7.97 and a beta of 1.11. New Found Gold Corp. has a 1-year low of $2.27 and a 1-year high of $4.60.

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

About New Found Gold

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.