New Found Gold Corp. is a US-listed company in the gold industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Model estimate per share
~$4.5
Justified price-to-book
Base case. Range ~$4.0–$5.2. Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns.
Price vs value
No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.
New Found Gold Corp. valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Funds33 adding, 37 cuttingOf 16 active managers that changed their stake, 7 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Current signal Capital expenditure surging: TTM capex grew 178% year over year and now absorbs 30.6% of revenue.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
- Net cash. Cash exceeds long-term debt by $0.0bn.
Things to watch
- Loss-making. Operating margin is -1102.0%: costs exceed revenue.
- Burning cash. Free cash flow was -980.3% of revenue over the last 12 months.
- Heavy stock-based pay. Stock pay equals 108.2% of revenue: a real cost that cash-flow figures leave out.
- Share dilution. Diluted shares rose 20.9% in a year.
Price chart
- 1 day+0.3%
- 1 week-14.6%
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Third-party market data · may be delayed
At a glance
Profitability
- Revenue (TTM)
- $4.2M
- Operating margin
- -1102.0%
- Net margin
- -819.2%
- EPS (TTM, diluted)
- $-0.15
Growth
- Share count change
- +20.9%
Cash
- Free cash flow (TTM)
- -$40.8M
- FCF margin
- -980.3%
- Stock pay % of revenue
- 108.2%
News & updates
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for NFGC from the sources we follow. See filings →
Valuation models
We value New Found Gold Corp. as an operating company, with every model that fits that kind of business. Cost of equity 10.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.31 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$9.1 ~$6.6–$13 | Left out: out of range vs price (6.12x) |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$4.5 ~$4.0–$5.2 | Included |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | ~$0.1 ~$0.1–$0.1 | Left out: out of range vs price (0.04x) |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$4.5 ~$4.0–$5.2 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare New Found Gold Corp. with Gold in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
Forecasts and guidance
Next results: November 11, 2026, after the close.
Analysts' consensus
No analyst estimates are published for New Found Gold Corp.: too few analysts cover it.
Positioning
- Short interest
- — of tradable shares
- Days to cover
- 8.49 at average volume
- Short interest, 1 month
- −4% to October 15, 2026
- Held by institutions
- 19% of shares
- Held by insiders
- 28.9% of shares
- Employees
- 131 full time
Share-price performance
Market data may be delayedPrice behaviour
- 52-week range
- Not enough history
- From 52-week high
- —
- vs 50-day average
- —
- vs 200-day average
- —
- Volatility (1 year)
- —
- Beta vs S&P 500
- —
Fundamentals
Financial statements
| Fiscal year | 2025 Dec 2025 |
|---|---|
| Income | |
| Revenue | 4 |
| Gross profit | 0 |
| Operating income | −46 |
| Net income | −34 |
| Diluted EPS | −$0.14 |
| Margins | |
| Gross margin | 2.0% |
| Operating margin | <−999% |
| Net margin | −819.2% |
| Free-cash-flow margin | −980.3% |
| Cash flow | |
| Cash from operations | −39 |
| Capital spending | 1 |
| Free cash flow | −41 |
| Stock-based pay | 4 |
| Free cash flow after stock pay | −45 |
| Balance sheet | |
| Cash | 43 |
| Total debt | 0 |
| Net debt (negative = net cash) | −42 |
| Diluted shares | 235m |
Financial health
- Short-term assets cover short-term liabilities $61m of assets due within a year against $16m of liabilities due within a year.
- Short-term assets cover long-term liabilities $61m short-term assets against $70m of longer-dated liabilities.
- More cash than debt $43m of cash against $440,267 of debt.
- Debt below 40% of shareholders' equity Debt is 0% of equity.
- Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
- A year's operating cash flow covers at least 20% of debt −$39m of operating cash flow against $440,267 of debt.
- Operating profit covers interest at least five times over No material interest expense reported.
Dividends, buybacks and capital spending
- Diluted share count
- +20.9%
- year over year
- Days sales outstanding
- 277 days
- receivables vs revenue
Competitors: side by side with peers
| Last 12 months unless stated | NFGC | IDR | ITRG | CMCL | OR | DRD | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $4m | $51m | $244m | $268m | $277m | $661m | $1.8bn |
| Revenue growth, last 12 months | — | 66.8% | 703.7% | 46.2% | 45.1% | 52.3% | 53.7% |
| Revenue growth, 3-year average | — | 63.0% | — | 27.0% | — | — | 35.2% |
| Revenue growth, latest quarter | — | 13.2% | — | 13.8% | — | — | 14.5% |
| Gross margin | 2.0% | 64.1% | 38.8% | 51.2% | 83.8% | 53.5% | 51.2% |
| Operating margin | <−999% | 45.1% | 27.6% | 41.0% | 70.9% | 51.4% | 41.1% |
| Operating margin, 3-year average | — | 32.5% | — | 22.0% | — | 26.3% | 26.0% |
| Net margin | −819.2% | 44.0% | −0.9% | 20.6% | 74.3% | 38.1% | 29.6% |
| Cash from operations / revenue | −949.7% | 52.7% | 29.6% | 28.5% | 88.5% | 50.9% | 45.2% |
| Free-cash-flow margin | −980.3% | 33.0% | 10.3% | 16.4% | 88.1% | 19.2% | 25.2% |
| Free-cash-flow margin, 3-year average | — | 28.2% | — | 6.5% | — | 13.8% | 13.8% |
| Stock pay / revenue | 108.2% | 1.6% | 0.8% | — | 3.0% | 0.4% | 0.9% |
| Change in share count | 20.9% | 14.4% | 75.5% | 0.4% | 0.8% | 0.4% | 3.0% |
Who owns it
Funds buying and selling- Reported value
- $85.2M
- Institutions reporting
- 86
- Shares held vs prior quarter
- ▲ 23.5%
- Positions opened / closed
- 12 / 16
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Merk Investments LLC | $25.2M | 16.3M | 29.6% | ▲ 243.4% |
| Sprott Inc. | $16.1M | 10.5M | 18.9% | ▲ 35.6% |
| Van Eck Associates Corp | $12.6M | 8.1M | 14.7% | ▲ 6.9% |
| Groupe La Francaise | $3.9M | 2.5M | 4.5% | ▲ 7.2% |
| Bank Of America Corp | $3.8M | 2.4M | 4.4% | ▼ 43.6% |
| Marshall Wace, LLP | $3.5M | 2.3M | 4.1% | ▼ 5.8% |
| Morgan Stanley | $2.8M | 1.8M | 3.3% | ▼ 30.5% |
| D. E. Shaw & Co., Inc. | $2.7M | 1.8M | 3.2% | ▼ 15.7% |
| Heartland Advisors Inc | $1.3M | 854K | 1.5% | ▼ 5.2% |
| Jane Street Group, LLC | $1.3M | 832K | 1.5% | ▼ 59.6% |
| Citadel Advisors LLC | $1.2M | 786K | 1.4% | ▲ 265.3% |
| Millennium Management LLC | $892,700 | 579K | 1.0% | ▼ 56.4% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not New Found Gold Corp.'s complete shareholder register. Values are as reported by the filers .
Insider trading activity
Full insider history and chartFrom insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
New Found Gold Corp. in brief
- What does New Found Gold Corp. do?
- New Found Gold Corp. is a US-listed company in the gold industry. Its financial year ends in December.
- What is New Found Gold Corp.'s stock ticker?
- New Found Gold Corp. trades under the ticker NFGC on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
- What is New Found Gold Corp.'s free cash flow?
- New Found Gold Corp.'s free-cash-flow margin is -980.3% of revenue over the trailing twelve months.
- Who are New Found Gold Corp.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Merk Investments LLC, Sprott Inc. and Van Eck Associates Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- How much debt does New Found Gold Corp. have?
- New Found Gold Corp.'s debt-to-equity ratio is 0.1%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
- Who are New Found Gold Corp.'s competitors?
- In our Gold peer group, the companies closest to New Found Gold Corp. are Idaho Strategic Resources, Inc., Integra Resources Corp., Caledonia Mining Corp plc, OR Royalties Inc. and Drdgold LTD. The side-by-side comparison below sets their revenue, margins and growth against New Found Gold Corp.'s.
- When is New Found Gold Corp.'s next earnings date?
- Around November 11, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — New Found Gold Corp. announces its own schedule.
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