Toronto Dominion Bank Boosts Stake in New Found Gold Corp. (NYSE:NFGC)

Toronto Dominion Bank increased its stake in shares of New Found Gold Corp. (NYSE:NFGC) by 10,700.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 21,493 shares of the company’s stock after buying an additional 21,294 shares during the quarter. Toronto Dominion Bank’s holdings in New Found Gold were worth $54,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in New Found Gold during the 2nd quarter valued at about $703,000. Renaissance Technologies LLC acquired a new stake in shares of New Found Gold during the second quarter worth about $637,000. Van ECK Associates Corp boosted its position in New Found Gold by 9.5% in the second quarter. Van ECK Associates Corp now owns 5,337,448 shares of the company’s stock valued at $15,061,000 after buying an additional 462,191 shares during the last quarter. LGT Fund Management Co Ltd. acquired a new position in New Found Gold in the 2nd quarter worth approximately $113,000. Finally, Cetera Advisors LLC acquired a new position in New Found Gold in the 1st quarter worth approximately $93,000. 3.43% of the stock is owned by institutional investors and hedge funds.

New Found Gold Trading Down 0.6 %

Shares of NYSE NFGC opened at $1.61 on Tuesday. The company has a 50 day simple moving average of $2.06 and a two-hundred day simple moving average of $2.56. The stock has a market cap of $320.24 million, a price-to-earnings ratio of -7.32 and a beta of 1.00. New Found Gold Corp. has a 12 month low of $1.51 and a 12 month high of $4.15.

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.