New Found Gold FY2024 EPS Estimate Raised by Roth Capital

New Found Gold Corp. (NYSE:NFGC) – Roth Capital boosted their FY2024 earnings estimates for shares of New Found Gold in a report released on Tuesday, December 24th. Roth Capital analyst M. Niehuser now expects that the company will earn ($0.19) per share for the year, up from their prior estimate of ($0.23). The consensus estimate for New Found Gold’s current full-year earnings is ($0.28) per share. Roth Capital also issued estimates for New Found Gold’s Q4 2024 earnings at ($0.06) EPS and FY2025 earnings at ($0.23) EPS.

New Found Gold Stock Up 3.6 %

Shares of NYSE:NFGC opened at $1.75 on Friday. The company’s fifty day moving average is $1.91 and its 200 day moving average is $2.46. New Found Gold has a 52 week low of $1.51 and a 52 week high of $4.15. The stock has a market cap of $348.09 million, a PE ratio of -7.95 and a beta of 1.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NFGC. Toronto Dominion Bank grew 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 worth $54,000 after purchasing an additional 21,294 shares during the last quarter. National Bank of Canada FI grew its holdings in 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 worth $66,000 after acquiring an additional 5,476 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of New Found Gold in the second quarter valued at about $71,000. Quadrature Capital Ltd bought a new position in New Found Gold during the 3rd quarter valued at approximately $79,000. Finally, Atom Investors LP purchased a new stake in New Found Gold in the 3rd quarter worth approximately $87,000. Hedge funds and other institutional investors own 3.43% of the company’s stock.

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; and the Kingsway project located in Gander, Newfoundland.