NFGC has 36-month beta value of 0.83. Analysts have mixed views on the stock, with 1 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for NFGC is 112.64M, and currently, short sellers hold a 3.98% ratio of that float. The average trading volume of NFGC on November 08, 2024 was 520.35K shares.
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NFGC) stock’s latest price update
New Found Gold Corp (AMEX: NFGC)’s stock price has plunge by 11.79relation to previous closing price of 2.12. Nevertheless, the company has seen a 5.33% surge in its stock price over the last five trading sessions. prnewswire.com reported 2024-11-06 that VANCOUVER, BC, Nov. 6, 2024 /PRNewswire/ – New Found Gold Corp. (“New Found” or the “Company”) (TSXV: NFG) (NYSE-A: NFGC) is pleased to announce initiation of work towards a maiden resource estimate and preliminary economic assessment (“PEA”) for the Queensway Project (“Queensway” or the “Project”), which comprises a 1,756 km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador. Highlights: The Company has engaged SLR Consulting (“SLR”) to deliver a maiden resource estimate and PEA, with an anticipated completion date of Q2 2025.
NFGC’s Market Performance
NFGC’s stock has risen by 5.33% in the past week, with a monthly rise of 0.42% and a quarterly drop of -1.25%. The volatility ratio for the week is 6.24% while the volatility levels for the last 30 days are 5.28% for New Found Gold Corp The simple moving average for the past 20 days is -1.82% for NFGC’s stock, with a -23.10% simple moving average for the past 200 days.
Analysts’ Opinion of NFGC
Many brokerage firms have already submitted their reports for NFGC stocks, with ROTH MKM repeating the rating for NFGC by listing it as a “Buy.” The predicted price for NFGC in the upcoming period, according to ROTH MKM is $9 based on the research report published on August 15, 2023 of the previous year 2023.
NFGC Trading at -6.04% from the 50-Day Moving Average
After a stumble in the market that brought NFGC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -42.88% of loss for the given period.
Volatility was left at 5.28%, however, over the last 30 days, the volatility rate increased by 6.24%, as shares sank -2.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.90% lower at present.
During the last 5 trading sessions, NFGC rose by +5.33%, which changed the moving average for the period of 200-days by -22.80% in comparison to the 20-day moving average, which settled at $2.41. In addition, New Found Gold Corp saw -32.29% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for NFGC
The total capital return value is set at -1.18. Equity return is now at value -109.18, with -90.56 for asset returns.
Based on New Found Gold Corp (NFGC), the company’s capital structure generated 0.0 points at debt to capital in total, while cash flow to debt ratio is standing at -759.59. The debt to equity ratio resting at 0.0. The interest coverage ratio of the stock is -2965.66.
Currently, EBITDA for the company is -102.04 million with net debt to EBITDA at 0.72. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.07.
Conclusion
To put it simply, New Found Gold Corp (NFGC) has had a mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
