New Found Gold Corp.
NFGC · Gold and Silver Ores · EDGAR filings ↗
Grade
D45Pre-production gold explorer burning cash with negligible revenue and roughly a year of runway, recently bolstered by the Maritime acquisition.
Strengths
- Solid liquidity (current ratio 3.9, quick 3.5) and ~$43M cash; Maritime adds ~C$311M of net assets and early revenue
- Loss broadly flat year over year, indicating contained burn
Risks
- Cash runway ~4.1 quarters with deeply negative margins (operating -1100%, net -819%) and negative FCF; no operating profitability
- Exploration/permitting and gold-price exposure plus integration of a newly acquired developer
Notable findings
- Net lossNet loss (net margin -819.2%)
- Cash burnNegative free cash flow (-41.6M)
Key metrics
Gross margin
2.0%
Operating margin
-1102.0%
Net margin
-819.2%
Return on equity
-11.4%
Return on assets
-8.9%
Current ratio
3.9×
Free cash flow
-$42M
Tangible book value
$218M
Cash & investments
$43M
Cash runway
4q
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 40-F | 2026-03-25 | 2025-12-31 | 0001104659-26-034548 ↗ |
| 40-F | 2025-03-21 | 2024-12-31 | 0001410578-25-000406 ↗ |
| 40-F | 2024-03-21 | 2023-12-31 | 0001104659-24-037200 ↗ |
| 40-F | 2023-03-30 | 2022-12-31 | 0001104659-23-039232 ↗ |
| 40-F | 2022-05-19 | 2021-12-31 | 0001104659-22-062927 ↗ |