Fury Gold Mines (NYSEAMERICAN:FURY) Stock Price Up 7.2% – Time to Buy?

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

Analyst Upgrades and Downgrades

FURY has been the subject of several recent research reports. HC Wainwright reduced their target price on shares of Fury Gold Mines from $2.00 to $1.90 and set a “buy” rating for the company in a research note on Monday, August 24th. UBS Group set a $1.90 price target on shares of Fury Gold Mines in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1.90.

Fury Gold Mines Stock Performance

The company has a market capitalization of $99.25 million, a P/E ratio of -3.48 and a beta of 0.73. The business has a 50 day moving average of $0.54 and a 200-day moving average of $0.60.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Cibc World Market Inc. bought a new stake in shares of Fury Gold Mines during the second quarter valued at about $52,000. U S Global Investors Inc. purchased a new stake in shares of Fury Gold Mines in the first quarter worth about $214,000. Bank of America Corp DE purchased a new stake in shares of Fury Gold Mines in the second quarter worth about $456,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Fury Gold Mines in the second quarter worth about $1,589,000. Finally, Ashford Capital Management Inc. lifted its holdings in shares of Fury Gold Mines by 2.2% in the first 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 in the last quarter. Hedge funds and other institutional investors 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.