You Should Know These Things About New Found Gold Corp. (NFGC)


As of Wednesday close, New Found Gold Corp.’s (AMEX:NFGC) stock was up $0.04, moving up 1.07 percent to $3.78. The average number of shares traded per day over the past five days has been 89,540 shares. 3 times new highs have been achieved over the past 5 days, with a $0.10 gain in that time frame. In the last twenty days, the average volume was 122,850, while in the previous 50 days, it was 121,698.

Since last month, NFGC stock rose 8.62%. Shares of the company fell to $3.35 on 11/03/22, the lowest level in the past month. A 52-week high of $7.65 was reached on 04/19/22 after having rallying from a 52-week low of $2.92. Since the beginning of this year, NFGC’s stock price has dropped by -47.13% or -$3.37, and marked a new high 4 times. However, the stock has declined by -50.59% since its 52-week high.

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Financial Health

Based on annual data, NFGC earned $6000.0 in gross profit and brought in $45.21 million in revenue.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. During the quarter, the company generated -$17.23 million in EBITDA. The liabilities of New Found Gold Corp. were 12.88 million at the end of its most recent quarter, and its total debt was $96230.0.

Technical Picture

This quick technical analysis looks at New Found Gold Corp.’s (NFGC) price momentum. With a historical volatility rate of 36.43%, the RSI 9-day stood at 58.88% on 23 November.

With respect to its five-day moving average, the current New Found Gold Corp. price is up by +2.72% percent or $0.10. At present, NFGC shares trade +8.93% above its 20-day simple moving average and -11.48% percent below its 100-day simple moving average. However, the stock is currently trading approximately -2.07% below its SMA50 and -39.33% below its SMA200.

Stochastic coefficient K was 62.41% and Stochastic coefficient D was 52.70%, while ATR was 0.17. Given the Stochastic reading of 76.10% for the 14-day period, the RSI (14) reading has been calculated as 55.65%. As of today, the MACD Oscillator reading stands at 0.02, while the 14-day reading stands at 0.02.

Analyst Ratings

BMO Capital Markets launched its rating on New Found Gold Corp. (AMEX: NFGC) to an Outperform in a note to investors on June 06, 2022. New Found Gold Corp. (NFGC) has been rated Buy by analysts. According to 0 brokerage firms, NFGC is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate New Found Gold Corp. stock as buy, with 1 recommending it as overweight.

With a median target price of $10.00, the current consensus forecast for the stock is $10.00 – $10.00. Based on these forecasts, analysts predict New Found Gold Corp. (NFGC) will achieve an average price target of $10.00.


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