NFGC
New Found Gold Corp.Basic Materials·Gold
$2.08
$491M market cap
Revenue
$12.9M
Free Cash Flow
$-46.5M
Rev Growth
+0.0%
FCF Margin
-360.2%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
New Found Gold Corp., a mineral exploration company, engages in the identification, acquisition, and exploration of mineral properties in the Provinces of Newfoundland and Labrador, and Ontario. The company primarily explores for gold deposit. It holds 100% interests in the Queensway project that includes 86 mineral licenses and 6,041 claims covering an area of 151,030 hectares of land located near Gander, Newfoundland; and the Lucky Strike project comprising 11,684 hectares located in Kirkland
2-Year Price History
$1.89-40.9%
Quarterly Financials & Projections
Quarterly Waterfall (CAD M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 7.1 | -12.7 | -12.9 | -13.7 | -18.6 | -24.5 | -5.8 | 43.6 | 1.7 | 236.7 | -41.9% | -172.5x | -- |
| Act | 2025-Q4 | 5.8 | -15.2 | -20.6 | -15.1 | -20.5 | -22.0 | -1.4 | 67.7 | 1.1 | 302.5 | -58.9% | -152.2x | -- |
Valuation & Metrics
Market Stats
Price$2.08
Market Cap$491M
Enterprise Value$636M
P/S Ratio52.5x
P/FCF--
EV/FCF--
FCF Margin (TTM)-360.2%
FCF Yield-6.9%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$12.9M
Net Income$-28.9M
Free Cash Flow$-46.5M
Revenue Growth (YoY)+0.0%
EBITDA Margin-215.9%
Net Margin-223.5%
FCF Margin-360.2%
CapEx % of Revenue55.8%
SBC % of Revenue0.0%
ROIC-50.4%
WC Change % Rev-36.6%
Interest Coverage-160.8x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares5.0M
Days to Cover2.5
Change (vs Prior)-14.0%
Need at least 2 settlement dates for chart
Employees
Headcount62
Revenue / Employee$208,315
Gross Profit / Employee$-120,176
Cash Runway
11.2months
CRITICAL
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
17.7%(+14.7% YoY)
83 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
0.1%(+0.0% YoY)
1 filers
Vanguard, iShares, SPDR
Market makers
1.0%(+1.0% YoY)
4 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| SPROTT INC. | $15.0M | $2.21 | −$529K | +$13.2M | +1.7% | $3.29B |
| VAN ECK ASSOCIATES CORP | $14.8M | $3.21 | +$3.4M | +$4.8M | +0.8% | $133.17B |
| Merk Investments LLC | $8.9M | $2.67 | +$0 | +$8.9M | +4.8% | $368M |
| BANK OF AMERICA CORP /DE/ | $8.4M | $1.85 | +$6.6M | +$4.6M | -0.1% | $1.36T |
| MORGAN STANLEY | $5.2M | $2.41 | +$2.5M | +$5.1M | -0.3% | $1.65T |
| MARSHALL WACE, LLP | $4.7M | $2.00 | +$3.7M | +$1.8M | +0.6% | $92.71B |
| Groupe la Francaise | $4.3M | $1.94 | +$4.5M | +$4.3M | +0.1% | $7.14B |
| JANE STREET GROUP, LLCMM | $4.0M | $2.94 | −$1.6M | +$4.0M | -0.1% | $92.10B |
| D. E. Shaw & Co., Inc. | $3.9M | $2.40 | +$1.7M | +$3.9M | -0.3% | $118.02B |
| TWO SIGMA INVESTMENTS, LP | $2.8M | $2.76 | −$193K | +$2.6M | -0.9% | $117.03B |
| MILLENNIUM MANAGEMENT LLC | $2.5M | $2.34 | +$2.1M | +$1.9M | -0.5% | $127.40B |
| HEARTLAND ADVISORS INC | $1.7M | $2.77 | +$49K | +$1.7M | -0.4% | $1.96B |
| RENAISSANCE TECHNOLOGIES LLC | $1.4M | $2.18 | +$1.2M | +$1.0M | +1.2% | $63.91B |
| Cambridge Investment Research Advisors, Inc. | $522K | $1.77 | −$47K | +$522K | -0.4% | $38.49B |
| SUSQUEHANNA INTERNATIONAL GROUP, LLPMM | $499K | $2.99 | +$113K | +$333K | -0.6% | $77.14B |
| Hartree Partners, LP | $485K | $2.97 | +$0 | +$485K | +3.4% | $461M |
| Kiker Wealth Management, LLC | $438K | $1.94 | +$438K | +$438K | +3.4% | $209M |
| HRT FINANCIAL LP | $426K | $2.14 | +$379K | +$426K | -0.6% | $39.46B |
| CITADEL ADVISORS LLC | $418K | $2.56 | −$877K | +$367K | -0.4% | $138.22B |
| Quantbot Technologies LP | $413K | $2.82 | +$58K | +$413K | +1.0% | $2.44B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)NEUTRAL
Holders
+0.97%
avg per quarter
Holders (ex-self)
+0.99%
excl. this stock
Buyers (this Q)
+0.11%
36 buyers · $0.02B in
Sellers (this Q)
+0.40%
18 sellers · $0.02B out
alpha coverage: 100% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+23.9%
how holders react when this stock falls
On quiet Qs
+3.0%
−10% to +10% baseline
On rallies (+10%+)
+19.0%
how they react when this stock rises
Holders' portfolio flow this Q
+40.6%
inflows — adds are organic
Sellers' portfolio flow this Q
+12.6%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-3.4%
Holder mid (any stock)
-4.6%
Holder rally (any stock)
-5.6%
Biggest decreases this quarter
Moerus Capital Management LLCexited−$5.0MJANE STREET GROUP, LLC−$1.6Mα-0.1CITADEL ADVISORS LLC−$877Kα-0.4Private Advisor Group, LLCexited−$736KSPROTT INC.−$529Kα+1.7Timelo Investment Management Inc.exited−$208KTWO SIGMA INVESTMENTS, LP−$193Kα-0.9Virtu Financial LLCexited−$157KLGT Fund Management Co Ltd.exited−$138KQuadrature Capital Ltdexited−$129K
New buyers this quarter
Top-5 holders · 60.7%
SPROTT INC.--
VAN ECK ASSOCIATES CORP--
Merk Investments LLC--
BANK OF AMERICA CORP /DE/--
MORGAN STANLEY--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
VAN ECK ASSOCIATES CORP7.6MSPROTT INC.7.7MMerk Investments LLC4.8MBANK OF AMERICA CORP /DE/4.3MInvesco Ltd.—MORGAN STANLEY2.7MMoerus Capital Management LLC—MARSHALL WACE, LLP2.4MTWO SIGMA INVESTMENTS, LP1.4MGroupe la Francaise2.3M
Analyst Coverage
Analyst Coverage
Analyst Ratings
1
Buy: 1Consensus: Buy
Corporate
Order Flow (FINRA, ~3w lag)
26.7%retail-3.6pp
9.6%dark-1.1pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
New Found Gold Corp: Chronic Share Printing Meets Imminent Liquidity Gap
Overall Risk
8/10
Fraud
4/10
Dilution
9/10
Insolvency
9/10
Earnings Overstated
3/10
Hidden Liabilities
5/10
Legal
6/10
Audit Warnings
9/10
Hidden Upside
4/10
Contextually Acceptable
4/10