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New Found Gold
(TSX:NFGC)
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Rating:48Neutral
Price Target:
C$2.50
▼(-3.85% Downside)
Action:Reiterated
Date:10/28/26
The score is held down primarily by weak financial performance (large ongoing losses and negative operating/free cash flow), despite a comparatively supportive balance sheet with modest leverage. Technicals provide some offset with improving short-to-medium term trend (price above key shorter moving averages), but the stock remains below the 200-day average and MACD is slightly negative. Valuation is also a headwind since the negative P/E reflects continued unprofitability and no dividend yield is available.
Positive Factors
Revenue Growth
The roughly 100% increase in TTM revenue indicates materially higher reported activity than in prior periods. If sustained, this expansion could support broader exploration and technical work, although the growth has not yet translated into profitability or positive cash flow.
Negative Factors
Non-Producing Business Model
Because New Found Gold has no established gold production stream, it lacks recurring metal-sales revenue to fund operations. Progress therefore depends on exploration outcomes and continued access to equity or other capital, creating a structurally higher funding risk than for established producers.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The roughly 100% increase in TTM revenue indicates materially higher reported activity than in prior periods. If sustained, this expansion could support broader exploration and technical work, although the growth has not yet translated into profitability or positive cash flow.
Read all positive factors
New Found Gold (NFGC) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$858.98M
Dividend YieldN/A
Average Volume (3M)367.31K
Price to Earnings (P/E)―
Beta (1Y)2.18
Revenue GrowthN/A
EPS Growth0.14%
CountryCA
Employees138
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.23
Shares Outstanding385,194,600
10 Day Avg. Volume438,468
30 Day Avg. Volume367,308
Financial Highlights & Ratios
PEG Ratio0.88
Price to Book (P/B)2.27
Price to Sales (P/S)164.05
P/FCF Ratio-16.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$7.03Price Target Upside170.41% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.13
Revenue Forecast (FY)C$77.10M
New Found Gold Business Overview & Revenue Model
Company Description
New Found Gold Corp., a mineral exploration company, engages in the identification, evaluation, acquisition, and exploration of mineral properties in the Provinces of Newfoundland and Labrador, Canada. The company primarily explores for gold depos...
How the Company Makes Money
As an exploration-stage company, New Found Gold does not typically generate operating revenue from selling gold because it is not a producing miner. Its primary source of funding is raising capital through the financial markets (e.g., issuing comm...
New Found Gold Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
62
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 31.42M | 5.81M | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -38.36M | -42.08M | -813.65K | -940.21K | -880.40K | -582.93K |
| EBITDA | -68.30M | -58.38M | -47.19M | -102.04M | -89.09M | -50.05M |
| Net Income | -58.26M | -47.57M | -50.27M | -79.89M | -109.63M | -57.27M |
Balance Sheet | ||||||
| Total Assets | 705.68M | 536.13M | 74.02M | 84.58M | 110.69M | 148.06M |
| Cash, Cash Equivalents and Short-Term Investments | 203.16M | 67.73M | 23.10M | 57.48M | 89.64M | 132.43M |
| Total Debt | 67.94M | 1.14M | 123.10K | 157.80K | 150.23K | 100.85K |
| Total Liabilities | 197.67M | 117.03M | 7.45M | 19.08M | 27.21M | 25.40M |
| Stockholders Equity | 508.01M | 419.10M | 66.57M | 65.50M | 83.47M | 122.65M |
Cash Flow | ||||||
| Free Cash Flow | -82.58M | -56.98M | -60.17M | -100.99M | -79.94M | -53.94M |
| Operating Cash Flow | -61.03M | -55.20M | -55.68M | -99.27M | -74.38M | -48.51M |
| Investing Cash Flow | -14.20M | 9.26M | -3.01M | -4.44M | -737.87K | -17.07M |
| Financing Cash Flow | 202.59M | 82.48M | 27.12M | 75.43M | 56.80M | 118.34M |
New Found Gold Technical Analysis
Negative
2.60
Price Trends
2.39
Negative
2.28
Negative
2.75
Negative
Market Momentum
>-0.01
Negative
46.17
Neutral
58.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NFGC, the sentiment is Negative. The current price of 2.6 is above the 20-day moving average (MA) of 2.26, above the 50-day MA of 2.39, and below the 200-day MA of 2.75, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.17 is Neutral, neither overbought nor oversold. The STOCH value of 58.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:NFGC.
New Found Gold Peers Comparison
UnderperformOutperform
Sector (61)
TSE:NFGC
New Found Gold
2.23
-0.69
-23.63%
TSE:IAU
i-80 Gold Corp
1.94
0.60
44.78%
TSE:CNL
Collective Mining
14.62
-1.38
-8.63%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.