Equities Analysts Offer Predictions for New Found Gold Corp.’s Q3 2024 Earnings (NYSE:NFGC)

New Found Gold Corp. (NYSE:NFGC) – Roth Capital issued their Q3 2024 EPS estimates for New Found Gold in a note issued to investors on Thursday, October 3rd. Roth Capital analyst M. Niehuser anticipates that the company will post earnings of ($0.07) per share for the quarter. The consensus estimate for New Found Gold’s current full-year earnings is ($0.30) per share. Roth Capital also issued estimates for New Found Gold’s Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.23) EPS, Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.06) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.24) EPS.

New Found Gold (NYSE:NFGC) last issued its earnings results on Friday, August 9th. The company reported ($0.05) EPS for the quarter.

New Found Gold Stock Down 1.8 %

NYSE:NFGC opened at $2.41 on Monday. The stock’s 50 day moving average price is $2.65 and its 200 day moving average price is $3.12. New Found Gold has a 52-week low of $2.27 and a 52-week high of $4.60. The company has a market capitalization of $463.94 million, a PE ratio of -7.97 and a beta of 1.11.

Institutional Trading of New Found Gold

Large investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd grew its position in New Found Gold by 72.9% in the first quarter. Quadrature Capital Ltd now owns 18,553 shares of the company’s stock worth $68,000 after buying an additional 7,821 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in New Found Gold in the 2nd quarter valued at $71,000. Cetera Advisors LLC acquired a new position in shares of New Found Gold in the first quarter valued at $93,000. HM Payson & Co. grew its position 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 period. Finally, LGT Fund Management Co Ltd. bought a new position in New Found Gold in the 2nd quarter valued at $113,000. 3.43% of the stock is currently owned by institutional investors and hedge funds.

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.