Heartland Advisors Inc. Makes New $611,000 Investment in New Found Gold Corp. $NFGC

Heartland Advisors Inc. purchased a new stake in shares of New Found Gold Corp. (NYSE:NFGC) in the third quarter, HoldingsChannel.com reports. The fund purchased 257,700 shares of the company’s stock, valued at approximately $611,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Waterloo Capital L.P. purchased a new position in New Found Gold in the 3rd quarter valued at approximately $47,000. Midwest Trust Co purchased a new position in shares of New Found Gold in the second quarter valued at $28,000. Quadrature Capital Ltd purchased a new stake in shares of New Found Gold in the 2nd quarter worth about $82,000. Hollencrest Capital Management acquired a new stake in New Found Gold in the 3rd quarter valued at about $225,000. Finally, Timelo Investment Management Inc. purchased a new position in New Found Gold during the 2nd quarter valued at about $254,000. Institutional investors and hedge funds own 3.43% of the company’s stock.

New Found Gold Price Performance

Shares of NYSE NFGC opened at $2.59 on Wednesday. New Found Gold Corp. has a 12-month low of $0.93 and a 12-month high of $3.59. The company has a market capitalization of $629.70 million, a PE ratio of -11.77 and a beta of 1.31. The firm’s 50-day moving average is $2.98 and its two-hundred day moving average is $2.42.

New Found Gold Profile

New Found Gold Corporation is a Canadian mineral exploration company focused on the discovery and advancement of gold deposits in eastern Canada. The company’s principal asset is the Queensway Project, located in the Central Newfoundland gold belt, a region renowned for high-grade orogenic gold systems. New Found Gold employs systematic drilling and geophysical surveying to delineate multiple high-potential zones along a 25-kilometre strike corridor, targeting both near-surface and deeper structural targets.

The Queensway Project has garnered attention for its visible gold-bearing quartz veins and robust drill intercepts, which have extended known mineralized zones and uncovered new targets.