New Found Gold Corp. Secures $56 Million Through Share Offering

New Found Gold ( (TSE:NFG) ) has issued an update.

On May 29, 2025, New Found Gold Corp. announced an underwriting agreement to issue and sell a total of 25,770,000 shares, comprising both flow-through shares and common shares, for gross proceeds of $56,129,100. This offering, led by BMO Nesbitt Burns Inc. and SCP Resource Finance LP, aims to strengthen the company’s financial position and support its exploration activities. The issuance is structured in two tranches, with an option for underwriters to purchase additional shares, potentially increasing proceeds by $7,350,900. The move is expected to enhance New Found Gold’s market presence and provide capital for its ongoing projects.

The most recent analyst rating on (TSE:NFG) stock is a Buy with a C$3.00 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 Corp. operates in the mining industry, focusing on the exploration and development of gold resources. The company is primarily engaged in identifying and advancing gold projects in Canada, aiming to capitalize on the country’s rich mineral deposits.

Average Trading Volume: 687,349

Technical Sentiment Signal: Sell

Current Market Cap: C$425.6M

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