Report On New Found Gold Corp.’s (NFGC) Price Performance

The stock of New Found Gold Corp. (AMEX:NFGC) increased by $0.13 on Friday to finish at $4.04, up 3.32 percent. The last five days have seen an average of 200,760 shares of common stock traded. 4 times new highs were reached in the current year, with a fall of -$3.11. The average number of shares traded over the last 20 days was 255,050, while the average volume over the last 50 days totaled 190,196.

NFGC stock dropped -8.60% since last month. On 12/22/22, the company’s shares reached a one-month low of $3.67. The stock touched a high of $7.65 on 04/19/22, after rallying from a low of $2.92 in 52 weeks. The price of NFGC stock has declined by -43.50% or -$3.11 this year, reaching a new high 4 times. Still, the stock price is down -47.19% from the 52-week high.

Financial Health

Based on annual data, it had gross profit of $6000.0 and revenue of $45.21 million.

Earnings Surprise

A higher net income was reported in the quarter under review than the previous quarter. EBITDA was -$17.23 million for the quarter. At the end of New Found Gold Corp.’s most recent quarter, its liabilities totaled 12.88 million, while its total debt was $96230.0.

Technical Picture

Here’s a quick look at New Found Gold Corp.’s (NFGC) price momentum from a technical perspective. As of 30 December, the RSI 9-day stood at 53.09%, suggesting the stock is Neutral, with a 48.59% historical volatility rate.

The stochastic %K and %D were 47.09% and 39.81% respectively, while the average true range (ATR) was 0.21. Based on the 14-day stochastic reading of 58.73%, the RSI (14) reading is 52.07%. On the 9-day MACD Oscillator, the stock is at 0.06, and the 14-day reading is at 0.03.

Analyst Ratings

In its analyst report released on June 06, 2022, BMO Capital Markets began covering New Found Gold Corp. (AMEX: NFGC). The stock was rated as an Outperform by the brokerage firm. Analysts have assigned New Found Gold Corp. (NFGC) an Buy rating. NFGC is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.

What is NFGC’s price target for the next 12 months?

The current consensus forecast for the stock is between $10.00 and $10.00, with a median target price of $10.00. In analyzing these forecasts, the average price target given by analysts for New Found Gold Corp. (NFGC) is $10.00.

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