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Canadian gold explorer advancing the high-grade Queensway discovery in Newfoundland, backed by prominent resource investors.
Canadian gold explorer advancing the high-grade Queensway discovery in Newfoundland, backed by prominent resource investors.
Earns no revenue and pays for drilling by raising capital from investors, so its value moves mainly with drill results and the first resource estimate.
In one line: No US peer..
Moat: none (installed base). Early-stage explorer; high-grade drill results are promising but the project is still pre-resource.
Headquarters: Vancouver, Canada · Founded: 2016 · Employees: 138
Size New Found Gold (NFGC.TO) is a Canada Materials company (Precious Metals) with a market value of $662M, the 304th largest of 420 Canada companies the cockpit tracks. Shares closed at C$2.41 on 6 Nov 2026.
Performance Over six months the shares fell 16.0%, against -1.0% for the median peer and +5.2% for the Canada market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth The operating margin is -232.9% (peer median 32.1%).
Valuation It trades at 1.82× book value against a peer median of 3.19× (3rd cheapest of 21).
Price implies The share price implies a return on equity of about 19.2%; New Found Gold delivers -19.4%, so the price asks more than the business earns today.
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$31.4M | C$5.81M | C$0 | C$0 | C$0 |
| Revenue growth | — | — | — | — | — |
| Gross profit | -C$38.4M | -C$42.1M | -C$813,654 | -C$940,208 | -C$880,396 |
| EBITDA | -C$72.1M | -C$58.4M | -C$59.5M | -C$103M | -C$87.8M |
| Net income | -C$58.3M | -C$47.6M | -C$50.3M | -C$79.9M | -C$90.0M |
| Free cash flow | -C$82.6M | -C$57.0M | -C$55.9M | -C$101M | -C$79.7M |
| Capital expenditure | C$22.5M | C$3.26M | C$4.48M | C$1.79M | C$5.56M |
| Total debt | C$67.9M | C$1.14M | C$123,103 | C$157,797 | C$150,227 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| New Found Gold NFGC.TO | $662M | -16% | n/a | -19% | 1.82× | 19.2% |
| Thesis Gold & Silver TAU.V | $516M | -31% | n/a | -5% | 2.24× | 24.4% |
| Osisko Gold OGG.V | $814M | -18% | +805% | 8% | 0.99× | 13.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NFGC.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.1% | -9.3% | 2nd highest of 21 |
| 6-month return | -16.0% | -1.0% | 8th lowest of 20 |
| Return on equity | -19.4% | 6.9% | 6th lowest of 21 |
| Price / book | 1.82× | 3.19× | 3rd cheapest of 21 |
| ROE the price implies | 19.2% | 29.7% | 5th least demanding of 21 |
| ROE delivered | -19.4% | 6.9% | 6th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| New Found Gold NFGC.TO | Canada | $662M | -16% | n/a | -19% | 1.82× | 19.2% | -19.4% |
| Amaroq AMRQ.L | United Kingdom | $657M | 0% | +2,134% | 2% | 3.10× | 22.7% | 1.8% |
| First Mining Gold FF.TO | Canada | $670M | +33% | n/a | -33% | 4.14× | 30.4% | -32.5% |
| Galiano Gold GAU.TO | Canada | $653M | +2% | +91% | 26% | 2.03× | 21.2% | 26.0% |
| Tungsten West TUN.L | United Kingdom | $694M | -18% | n/a | -608% | 8.26× | 86.4% | -607.6% |
| St. Barbara SBM.AX | Australia | $629M | +5% | -76% | -4% | 0.96× | 14.2% | -4.3% |
| Santacruz Silver Mining SCZ.TO | Canada | $707M | n/a | +38% | 22% | 3.28× | 53.5% | 22.1% |
| Griffin Mining GFM.L | United Kingdom | $711M | -4% | +29% | 12% | 2.42× | 21.0% | 12.0% |
| Metals Exploration MTL.L | United Kingdom | $617M | +17% | -17% | 14% | 2.12× | 17.8% | 13.5% |
| Mako Mining MKO.V | Canada | $712M | +7% | +79% | 36% | 3.70× | 36.5% | 36.1% |
| Troilus Mining TLG.TO | Canada | $611M | -8% | n/a | -122% | 7.28× | 110.2% | -121.9% |
| Founders Metals FDR.V | Canada | $734M | +42% | n/a | -9% | 5.52× | 30.0% | -9.2% |
| Anglo Asian Mining AAZ.L | United Kingdom | $590M | +30% | +220% | 58% | 4.42× | 39.4% | 58.0% |
| Catalyst Metals CYL.AX | Australia | $746M | -28% | +75% | 29% | 1.52× | 15.2% | 29.2% |
| Kingsgate Consolidated KCN.AX | Australia | $779M | -39% | +77% | 63% | 2.01× | 21.9% | 63.3% |
| Gold Reserve GRZ.V | Canada | $560M | -19% | n/a | -41% | 4.59× | 12.9% | -41.5% |
| Andean Precious Metals APM.TO | Canada | $555M | -20% | +63% | 49% | 1.84× | 21.4% | 49.2% |
| Banyan Gold BYN.V | Canada | $554M | +18% | n/a | -5% | 5.50× | 64.9% | -4.8% |
| FireFly Metals FFM.AX | Australia | $798M | -31% | n/a | -8% | 2.39× | 29.4% | -8.3% |
| Dakota Gold DC | United States | $798M | -1% | n/a | -23% | 4.34× | 38.7% | -23.4% |
| Avino Silver & Gold Mines ASM.TO | Canada | $799M | -30% | +54% | 21% | 2.79× | 46.7% | 20.8% |