Fury Gold Mines (NYSEAMERICAN:FURY) Stock Price Up 7.2% – Here’s Why

Shares of Fury Gold Mines Limited (NYSEAMERICAN:FURY) traded up 7.2% during trading on Wednesday. The company traded as high as $0.5299 and last traded at $0.5220. Approximately 354,584 shares traded hands during trading, an increase of 42% from the average session volume of 250,016 shares. The stock had previously closed at $0.4870.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group set a $1.90 price target on Fury Gold Mines in a research note on Monday, August 24th. HC Wainwright lowered their price objective on Fury Gold Mines from $2.00 to $1.90 and set a “buy” rating for the company in a research report on Monday, August 24th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Fury Gold Mines presently has a consensus rating of “Moderate Buy” and an average target price of $1.90.

Fury Gold Mines Trading Up 1.2%

The firm’s fifty day moving average price is $0.54 and its 200-day moving average price is $0.59. The firm has a market cap of $97.35 million, a price-to-earnings ratio of -3.41 and a beta of 0.73.

Hedge Funds Weigh In On Fury Gold Mines

Several large investors have recently bought and sold shares of the stock. Ashford Capital Management Inc. grew its stake in Fury Gold Mines by 2.2% during the 1st quarter. Ashford Capital Management Inc. now owns 3,730,015 shares of the company’s stock worth $2,272,000 after buying an additional 80,000 shares during the last quarter. Caisse de depot et placement du Quebec acquired a new position in Fury Gold Mines during the second quarter worth approximately $1,589,000. Bank of America Corp DE lifted its stake in Fury Gold Mines by 7.6% in the first quarter. Bank of America Corp DE now owns 1,484,863 shares of the company’s stock valued at $904,000 after buying an additional 104,900 shares during the last quarter. U S Global Investors Inc. purchased a new stake in Fury Gold Mines in the first quarter valued at approximately $214,000. Finally, Cibc World Market Inc. acquired a new stake in shares of Fury Gold Mines in the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 12.14% of the company’s stock.

Fury Gold Mines Company Profile

Fury Gold Mines Limited is a Canadian mineral exploration company focused on discovering and advancing high-grade gold deposits. The company is not a gold producer and concentrates on exploration, resource evaluation, permitting and development studies for its mineral properties.

Fury’s principal assets include the Eau Claire gold project in Quebec’s James Bay region and the Committee Bay gold project in Nunavut. Eau Claire is an advanced exploration project, while Committee Bay covers a large prospective land package in a historically underexplored portion of the Canadian Arctic.