Core Viewpoint - New Found Gold Corp. (NFGC) is experiencing significant selling pressure, having declined 23.2% over the past four weeks, but is now positioned for a potential trend reversal as it enters oversold territory, supported by positive earnings forecasts from Wall Street analysts [3]. Group 1: Technical Indicators - The Relative Strength Index (RSI) is utilized to determine if a stock is oversold, with a reading below 30 indicating oversold conditions. NFGC's current RSI is 28.04, suggesting that the heavy selling may be exhausting itself [4][5]. - RSI serves as a momentum oscillator that measures the speed and change of price movements, helping investors identify potential entry points for stocks that have fallen below their fair value due to unwarranted selling pressure [4]. Group 2: Fundamental Analysis - There is strong consensus among sell-side analysts regarding an increase in earnings estimates for NFGC, with the consensus EPS estimate rising by 3.3% over the last 30 days. This upward trend in earnings estimates typically correlates with price appreciation in the near term [5]. - NFGC holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a strong potential for a turnaround [5].

Core Viewpoint - The Zacks rating system, which focuses on a company's changing earnings picture, is a valuable tool for investors, particularly in assessing stocks like New Found Gold Corp. that have seen upward revisions in earnings estimates [1][2][3]. Earnings Estimate Revisions - Analysts have increased their earnings estimates for New Found Gold Corp. by 4.8% over the past three months, indicating a positive outlook for the company [5]. - The recent upgrade of New Found Gold Corp. to a Zacks Rank 2 (Buy) reflects this upward trend in earnings estimates, suggesting potential buying pressure and an increase in stock price [6][7]. Impact on Stock Price - The correlation between earnings estimate revisions and near-term stock price movements is strong, with institutional investors often driving price changes based on these revisions [3][9]. - The Zacks Rank system classifies stocks based on earnings estimates, with only the top 20% of stocks receiving a 'Strong Buy' or 'Buy' rating, indicating superior earnings estimate revision features [12][13]. Company Performance Expectations - For the fiscal year ending December 2024, New Found Gold Corp. is expected to earn -$0.30 per share, reflecting a 9.1% change from the previous year [11].

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. New Found Gold Corp. (NFGC) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year- to-date performance to find out. New Found Gold Corp. is a member of our Basic Materials group, which includes 240 different companies and currently sits at #6 in the Zacks Sec ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of March 2024 Commission File Number: 001-39966 New Found Gold Corp. (Exact name of registrant as specified in its charter) WeWork c/o New Found Gold Corp. 1600 - 595 Burrard Street Vancouver, British Columbia Canada V7X 1L4 (Address of principal executive office) Indicate by check mark whether the registra ...

Exhibit 99.2 Management's Discussion and Analysis For the three and nine months ended September 30, 2023 and 2022 The following discussion is management's assessment and analysis of the results and financial condition of New Found Gold Corp. (the "Company" or "NFG") and should be read in conjunction with the accompanying unaudited condensed interim financial statements for the three and nine months ended September 30, 2023 and September 30, 2022 and related notes. In addition, this MD&A should be read in co ...

Exhibit 99.2 The Company is a mineral exploration company engaged in the acquisition, exploration and evaluation of resource properties with a focus on gold properties located in Newfoundland and Labrador, Canada. The Company's principal objective is to explore and develop the Queensway Project, which is located near Gander, Newfoundland and to identify other properties worthy of investment and exploration. For the purpose of NI 43-101, the Queensway Project is the Company's only material property. Manageme ...