New Found GoldNYSE American: NFGC

VANCOUVER, BC , Oct. 15, 2024 /PRNewswire/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (NYSE-A: NFGC) is pleased to announce that further to its press release dated July 30, 2024, the Company has elected to purchase the remaining royalty on its Golden Bullet property from three arm's length royalty holders (together, the "Vendors"). As announced on July 30, 2024 , New Found purchased 0.6% of the Vendors' 1.6% net smelter returns royalty on the Company's Golden Bullet property and had the right to purchase the remaining 1% net smelter returns royalty (the "Remaining Royalty") from the Vendors.

TORONTO, July 09, 2024 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that, further to its Press Release dated June 27, 2024, the Company has successfully completed its sale to New Found Gold Corp. (“New Found”) of its 100% interest in the Kingsway Project (the “Kingsway Project”), located in Gander, Newfoundland and Labrador, as well as certain related assets of the Company (together with the Kingsway Project, the “Sold Assets”) (the “Disposition”).

VANCOUVER, British Columbia--(BUSINESS WIRE)--New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the Company has successfully completed its previously announced acquisition of a 100% interest in Labrador Gold Corp.'s (“LabGold”) Kingsway Project (the “Kingsway Project”), located in Gander, Newfoundland and Labrador, as well as certain related assets of LabGold (together with the Kingsway Project, the “Purchased Assets”) (the “Acquisition”). Pur.

New Found Gold Corp. (NFGC) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Here is how New Found Gold Corp. (NFGC) and Allegheny Technologies (ATI) have performed compared to their sector so far this year.

New Found Gold Corp. has been given a "Buy" rating due to its promising exploration activities in Canada's Newfound province near Gander City, as well as the potential for growth in the gold market. The correlation between New Found Gold and gold spot prices briefly turned negative, but now appears to have stabilized. The expected recession in the US is boosting gold as a safe haven in North American markets, which could also benefit New Found Gold.

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This analysis produces a Buy rating for New Found Gold Corp., but this rating should not be acted upon immediately as the stock could become cheaper soon. A strong positive correlation with the gold price and expectations of a bull market for the gold price due to recession fears could potentially propel New Found Gold Corp to. Gold will be in high demand as a safe haven against the risk of economic recession, gaining momentum as the Fed Chair assesses the current macroeconomic situation.