New Found Gold (NFG) AI Stock Analysis

• Market Cap: C$1.44B
• Dividend Yield: N/A
• Average Volume (3M): 835.81K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.00
• Revenue Growth: N/A
• EPS Growth: 28.06%
• Country: CA
• Employees: 62
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): -0.06
• Shares Outstanding: 337,380,920
• 10 Day Avg. Volume: 463,437
• 30 Day Avg. Volume: 835,814
• PEG Ratio: 0.24
• Price to Book (P/B): 7.55
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -8.35
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$5.96
• Price Target Upside: 42.69% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.5
• Revenue Forecast (FY): C$291.83M

• Rating: 56 Neutral
• Price Target: C$4.00 ▼(-4.31% Downside)

The score is held back primarily by weak financial performance (no revenue, continued losses, and significant cash burn) despite a strong low-debt balance sheet. Technicals are supportive with a clear uptrend and positive momentum, while corporate updates are broadly positive, but valuation is constrained by ongoing unprofitability and the lack of dividend support.

New Found Gold Business Overview & Revenue Model

Company Description

New Found Gold Corp., a mineral exploration company, engages in the identification, acquisition, and exploration of mineral properties in the Provinces of Newfoundland and Labrador, and Ontario. The company primarily explores for gold deposit. It holds 100% interests in the Queensway project that includes 86 mineral licenses and 6,041 claims covering an area of 151,030 hectares of land located near Gander, Newfoundland; and the Lucky Strike project comprising 11,684 hectares located in Kirkland Lake, Ontario. The company was formerly known as Palisade Resources Corp. and changed its name to New Found Gold Corp. in June 2017. New Found Gold Corp. was incorporated in 2016 and is headquartered in Vancouver, Canada.

How the Company Makes Money

New Found Gold makes money through the exploration and development of its mineral properties, with a potential future revenue stream from the sale of gold once its projects reach production stage. Currently, the company's primary source of funding is through equity financing, including private placements and public offerings, which provide the necessary capital for ongoing exploration and project development. Partnerships, joint ventures, and strategic alliances with other mining companies may also contribute to their financial resources, enabling them to share risks and costs associated with mineral exploration.

New Found Gold Financial Statement Overview

Summary

New Found Gold's financials reflect its pre-revenue exploration status with zero revenue, negative net income, and cash flow challenges. Despite a strong equity position and low debt, cash reserves are declining, indicating potential future liquidity constraints.

Income Statement

New Found Gold has consistently reported zero revenue, indicating a pre-revenue stage typical for exploration companies. The company has negative gross profit and significant negative net income, reflecting ongoing operational and exploration costs without revenue offset. Despite a reduction in EBIT and EBITDA losses in TTM, the lack of revenue puts the income statement in a weak position, affecting profitability metrics adversely.

Balance Sheet

The company maintains a strong equity position with low debt levels, evidenced by a debt-to-equity ratio close to zero, indicating low leverage. The equity ratio remains high, suggesting financial stability and a strong capital structure. However, declining cash reserves and an overall reduction in total assets over recent periods may signal potential liquidity constraints in the future.

Cash Flow

Operating cash flow remains negative, driven by high operational expenses relative to revenue, reflecting the exploration focus. Free cash flow is similarly negative, although there is some improvement in free cash flow growth in the TTM. The reliance on financing cash flow to sustain operations is evident, but the operating cash flow to net income ratio remains unfavorable, indicating inefficiencies in converting net income to cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-780.78K	-813.65K	-940.21K	-880.40K	-582.93K	-129.96K
EBITDA	-45.05M	-47.19M	-102.04M	-89.09M	-50.05M	-38.29M
Net Income	-45.85M	-50.27M	-79.89M	-109.63M	-57.27M	-34.31M
Balance Sheet
Total Assets	119.95M	74.02M	84.58M	110.69M	148.06M	73.54M
Cash, Cash Equivalents and Short-Term Investments	71.68M	23.10M	57.48M	89.64M	132.43M	68.82M
Total Debt	69.19K	123.10K	157.80K	150.23K	100.85K	53.20K
Total Liabilities	18.61M	7.45M	19.08M	27.21M	25.40M	635.08K
Stockholders Equity	101.33M	66.57M	65.50M	83.47M	122.65M	72.90M
Cash Flow
Free Cash Flow	-53.94M	-60.17M	-100.99M	-79.94M	-53.94M	-14.76M
Operating Cash Flow	-51.20M	-55.68M	-99.27M	-74.38M	-48.51M	-13.22M
Investing Cash Flow	1.22M	-3.01M	-4.44M	-737.87K	-17.07M	-1.59M
Financing Cash Flow	82.03M	27.12M	75.43M	56.80M	118.34M	55.20M

New Found Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.18
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NFG, the sentiment is Positive. The current price of 4.18 is above the 20-day moving average (MA) of 4.03, above the 50-day MA of 3.51, and above the 200-day MA of 2.55, indicating a bullish trend. The MACD of 0.19 indicates Positive momentum. The RSI at 57.63 is Neutral, neither overbought nor oversold. The STOCH value of 50.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NFG.

New Found Gold Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MKO	76 Outperform	C$730.01M	19.93	29.30%	―	45.36%	-14.35%
OGN	73 Outperform	C$185.20M	40.93	9.02%	―	39.37%	―
ELE	68 Neutral	C$1.56B	83.85	2.92%	―	131.18%	150.47%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
NFG	56 Neutral	C$1.44B	-19.24	-50.06%	―	―	28.06%
IAU	56 Neutral	C$1.70B	-6.64	-37.59%	―	70.93%	37.37%
ODV	49 Neutral	C$1.25B	-3.17	-46.07%	―	-1.73%	37.26%

New Found Gold Corporate Events

New Found Gold Engages Finance Advisor for Queensway Project

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.

New Found Gold Reports Promising Drilling Results at Queensway Project

New Found Gold Corp. announced significant results from its infill and expansion drilling at the K2 and Jackpot zones of the Queensway Gold Project. The drilling program aims to upgrade mineral resources from inferred to indicated categories, demonstrating good continuity of gold mineralization and potential for expansion. The results highlight promising high-grade mineralization areas, which will be further evaluated in future drilling campaigns, potentially enhancing the project’s economic viability and stakeholder value.

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.

New Found Gold Completes Acquisition of Maritime Resources, Emerges as Canadian Gold Producer

New Found Gold Corp. has completed its acquisition of Maritime Resources Corp., transforming into an emerging Canadian gold producer. The transaction, which involved a share exchange, positions New Found Gold to capitalize on high gold prices with enhanced exploration potential and production capabilities, benefiting from the synergies of combining two high-quality assets.

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.

New Found Gold Reports High-Grade Gold Discoveries at Queensway Project

New Found Gold Corp. announced significant drill results from its 2025 drill program at the Queensway Gold Project, highlighting high-grade gold mineralization in the Dome zone and successful infill drilling at the Lotto and Lotto North zones. These results indicate potential resource expansion and conversion of inferred mineral resources to the indicated category, which could impact the company’s future resource updates and mining plans.

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.