New Found Gold Corp V.NFG

outperform rating and C$8.00 price target

[knoxt]

New Found Gold's Outperform Rating, Price Target, Maintained By National Bank after $20 Million Deal for Kingsway Project

MT Newswires - Apr 23, 2024 12:25 PM ADT

11:25 AM EDT, 04/23/2024 (MT Newswires) -- New Found Gold's (NFG.V) outperform rating and C$8.00 price target was reiterated by National Bank of Canada on Tuesday following the company's agreement to buy the Kingsway project in Newfoundland from Labrador Gold (LAB.V) for C$20 million in shares.

The bank said the transaction is at a relatively low cost considering that the transaction would nearly double the prospective strike length along the Appleton fault within New Found Gold's Queensway project.

The transaction is expected to close in the third quarter pending the approval of around 67% of Labrador Gold shareholders.

New Found is currently conducting a 650,000-meter drill program at Queensway.

New Found shares were last seen up C$0.12 to C$5.04 on the TSX Venture Exchange.

Price: 5.04, Change: +0.12, Percent Change: +2.44

[DanWarren]

My brokerage account has the target for NFG.V at 9.57 CAD, based upon 5 analysts.

[bjbear]

With my Globe and Mail subscrption I set up their Watchlist to track stocks They have a mean target from 2 analysts of $9.58  with a 5.00 outperform for NFG. I have recently sold most of my NFG and bought Palisades Goldcorp, symbol  V.PALI which owns 27% of V.NFG or about 51 million shares. PALI with 48 million shares means that PALI owns 1.06 NFG shares for every PALI share. PALI is an

[Dixiedee]

If they win their lawsuit which is starting to look like they will buying Pali is a cheaper way to buy an interest in NFG but no guarantee their windfall will totally trickle down to its shareholders totally they could use a windfall to invest in something else but over all don't think buying Pali  you could go wrong 

[Broncobillie]

This post has been removed in accordance with Community Policy

[Flyby1969]

Pali is also up against a law suit