What The Experts Are Saying...
According to Technical Analyst Clive Maund on March 27, "New Found Gold has made the biggest gold discovery of the past 20 years at its Queensway property in Newfoundland, and that surely must work to its advantage as gold embarks on its biggest ever bull market, and most importantly from our point of view, it will work to the great advantage of its shareholders."
Alberto Abaterusso, writing for Seeking Alpha in May, highlighted the company's strategic position, stating, "New Found Gold Corp. receives a 'Buy' rating: strong upside potential from exploration in Canada's Newfound province near Gander City, and gold is poised for a bull market." Abaterusso further emphasized the growth opportunities at the Queensway project, saying, "Exploration and testing activities at the company's Queensway gold project in the province of Newfoundland continue to provide opportunities for higher share prices, and this could gain momentum as gold prices rise on expected strong safe-haven demand in the U.S. amid the looming recession."
Yahoo! Finance, on May 23, reported on the stock's strong performance within its sector. "New Found Gold Corp. is currently sporting a Zacks Rank of #2 (Buy)," indicating positive analyst sentiment.
The report also mentioned that "over the past 90 days, the Zacks Consensus Estimate for NFGC's full-year earnings has moved 1.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive." Additionally, it was noted that "Based on the most recent data, NFGC has returned 5.1% so far this year. At the same time, Basic Materials stocks have gained an average of 0.4%. This means that New Found Gold Corp. is performing better than its sector in terms of year-to-date returns."