New Found Gold Expands Queensway Project with Strategic Acquisition

New Found Gold ( (TSE:NFG) ) just unveiled an announcement.

New Found Gold has entered into a property purchase agreement with Exploits Discovery Corp. to acquire a 100% interest in certain mineral claims in Newfoundland and Labrador. This acquisition will expand the Queensway Gold Project by 33%, increasing its total size to 234,050 hectares. The additional landholdings are strategically located adjacent to the AFZ Core, enhancing the project’s district-scale discovery potential. The transaction is expected to close in the fourth quarter of 2025, pending customary approvals and conditions.

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 a well-financed advanced-stage exploration company that holds a 100% interest in the Queensway project, located in Newfoundland and Labrador. The company operates in a Tier 1 jurisdiction with excellent infrastructure and a skilled local workforce. It has completed an initial mineral resource estimate and preliminary economic assessment at Queensway.

YTD Price Performance: -12.10%

Average Trading Volume: 384,898

Technical Sentiment Signal: Hold

Current Market Cap: C$569.9M

See more insights into NFG stock on TipRanks’ Stock Analysis page.