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New Found Gold
(TSX:NFGC)
Select Model
Select Model
Rating:51Neutral
Price Target:
C$2.50
▼(-3.85% Downside)
Action:Reiterated
Date:08/24/26
The score is held back primarily by weak financial performance (deep losses and ongoing cash burn), partially offset by a relatively sound balance sheet with modest leverage. Technicals are supportive in the short term (price above key short/medium averages and positive MACD), while valuation remains constrained by negative earnings and no stated dividend yield. Corporate events are mildly positive but secondary to the fundamental profitability and cash flow risks.
Positive Factors
Exploration Portfolio Optionality
The exploration-led model targets discovery and resource delineation, creating potential to unlock project value through advancement, partnerships, sale, or eventual production. These strategic paths can monetize geological success over the medium term.
Negative Factors
Persistent Unprofitability
Deep losses across gross profit, EBITDA, EBIT, and net income show that higher activity has not translated into economic profitability. Continued negative margins weaken retained capital, increase dependence on external funding, and limit financial resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Exploration Portfolio Optionality
The exploration-led model targets discovery and resource delineation, creating potential to unlock project value through advancement, partnerships, sale, or eventual production. These strategic paths can monetize geological success over the medium term.
Read all positive factors
New Found Gold (NFGC) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$885.95M
Dividend YieldN/A
Average Volume (3M)486.39K
Price to Earnings (P/E)―
Beta (1Y)2.30
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. Volume407,783
30 Day Avg. Volume486,388
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$5.96Price Target Upside129.20% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.11
Revenue Forecast (FY)C$66.19M
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
Positive
2.60
Price Trends
2.23
Positive
2.47
Positive
3.05
Negative
Market Momentum
0.14
Negative
63.04
Neutral
70.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NFGC, the sentiment is Positive. The current price of 2.6 is above the 20-day moving average (MA) of 2.39, above the 50-day MA of 2.23, and below the 200-day MA of 3.05, indicating a neutral trend. The MACD of 0.14 indicates Negative momentum. The RSI at 63.04 is Neutral, neither overbought nor oversold. The STOCH value of 70.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NFGC.
New Found Gold Peers Comparison
UnderperformOutperform
Sector (61)
TSE:NFGC
New Found Gold
2.31
-0.55
-19.23%
TSE:IAU
i-80 Gold Corp
2.42
1.13
87.60%
TSE:CNL
Collective Mining
19.46
0.45
2.37%
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.