The Insider Activity Of New Found Gold Corp. (NFGC) Is Worth Monitoring

New Found Gold Corp. (AMEX:NFGC) finished Thursday with an addition of $0.07 to close at $5.26, an upside of 1.35 percent. An average of 242,480 shares of common stock have been traded in the last five days. There was a gain of $0.14 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 265,935 shares traded, while the 50-day average volume stands at 189,114.

NFGC stock has increased by 52.02% in the last month. The company shares reached their 1-month lowest point of $3.44 on 03/07/23. With the stock rallying to its 52-week high on 04/05/23, shares of the company touched a low of $2.92 and a high of $7.65 in 52 weeks. It has reached a new high 13 times so far this year and achieved 30.20% or $1.22 in price. In spite of this, the price is down -31.24% from the 52-week high.

Financial Health

Its gross profit as reported stood at $12000.0 compared to revenue of $68.24 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at New Found Gold Corp. (NFGC) price momentum. RSI 9-day as of the close on 06 April was 67.70%, suggesting the stock is Neutral, with historical volatility in this time frame at 53.01%.

As of today, NFGC’s price is $5.20 +2.73% or $0.14 from its 5-day moving average. NFGC is currently trading +48.59% higher than its 20-day SMA and +38.06% higher than its 100-day SMA. However, the stock’s current price level is +28.29% above the SMA50 and -0.94% below the SMA200.

The stochastic %K and %D were 83.12% and 87.50%, respectively, and the average true range (ATR) was 0.30. With the 14-day stochastic at 78.45% and the average true range at 0.28, the RSI (14) stands at 67.52%. The stock has reached 0.18 on the 9-day MACD Oscillator while the 14-day reading was at 0.33.

Analyst Ratings

BMO Capital Markets launched coverage on New Found Gold Corp. (AMEX: NFGC) in its analyst report released on June 06, 2022. The firm assigned the stock an Outperform rating. The consensus rating for New Found Gold Corp. (NFGC) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell NFGC, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.

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

Analysts predict a range of price targets between $8.25 and $12.30, with a median target of $10.00. Taking a look at these predictions, the average price target given by analysts for New Found Gold Corp. (NFGC) stock is $10.18.

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