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The latest announcement is out from New Found Gold ( (TSE:NFG) ).
New Found Gold Corp. has engaged Cutfield Freeman & Co. Ltd. as its project finance advisor for the Queensway Gold Project in Newfoundland and Labrador, Canada. This collaboration aims to develop and implement financing strategies for the project’s initial capital expenditure of $155 million, required for Phase 1 production targeted for the second half of 2027. The engagement of CF&Co is expected to enhance New Found Gold’s ability to secure optimal financing packages, potentially impacting the company’s operations and industry positioning positively.
The most recent analyst rating on (TSE:NFG) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on New Found Gold stock, see the TSE:NFG Stock Forecast page.
Spark’s Take on TSE:NFG Stock
According to Spark, TipRanks’ AI Analyst, TSE:NFG is a Neutral.
New Found Gold’s overall score reflects significant challenges typical for exploration companies, including lack of revenue and negative technical momentum. However, a strong equity position and promising corporate developments provide potential upside, making it a speculative investment with high risk and potential long-term reward.
To see Spark’s full report on TSE:NFG stock, click here.
More about New Found Gold
New Found Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The company holds a 100% interest in the Queensway Gold Project, as well as the Hammerdown Operation, Pine Cove Operation, and Nugget Pond Hydrometallurgical Gold Plant. New Found Gold is focused on advancing Queensway to production and bringing the Hammerdown Operation into steady-state gold production.
Average Trading Volume: 875,319
Technical Sentiment Signal: Buy
Current Market Cap: C$1.08B
For a thorough assessment of NFG stock, go to TipRanks’ Stock Analysis page.