HM Payson & Co. Decreases Position in New Found Gold Corp. (NYSE:NFGC)

HM Payson & Co. cut its position in New Found Gold Corp. (NYSE:NFGC) by 41.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 59,000 shares of the company’s stock after selling 42,000 shares during the quarter. HM Payson & Co.’s holdings in New Found Gold were worth $107,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Sprott Inc. purchased a new position in New Found Gold in the fourth quarter worth about $178,000. XTX Topco Ltd purchased a new position in shares of New Found Gold during the third quarter valued at approximately $103,000. Atom Investors LP purchased a new position in shares of New Found Gold during the third quarter valued at approximately $87,000. Quadrature Capital Ltd purchased a new position in shares of New Found Gold during the third quarter valued at approximately $79,000. Finally, National Bank of Canada FI raised its holdings in shares of New Found Gold by 26.8% during the third quarter. National Bank of Canada FI now owns 25,926 shares of the company’s stock valued at $66,000 after purchasing an additional 5,476 shares during the last quarter. 3.43% of the stock is owned by hedge funds and other institutional investors.

New Found Gold Stock Down 3.9 %

NFGC opened at $1.74 on Monday. The firm has a 50 day moving average price of $1.78 and a 200-day moving average price of $2.07. New Found Gold Corp. has a twelve month low of $1.51 and a twelve month high of $4.15. The stock has a market capitalization of $348.80 million, a price-to-earnings ratio of -7.91 and a beta of 0.93.

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.