New Found Gold (TSXV:NFG) Cash And Cash Equivalents : C$53.89 Mil (As of Dec. 2023)

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What is New Found Gold Cash And Cash Equivalents?

New Found Gold's quarterly cash and cash equivalents declined from Jun. 2023 (C$41.47 Mil) to Sep. 2023 (C$25.97 Mil) but then increased from Sep. 2023 (C$25.97 Mil) to Dec. 2023 (C$53.89 Mil).

New Found Gold's annual cash and cash equivalents declined from Dec. 2021 (C$100.49 Mil) to Dec. 2022 (C$82.17 Mil) and declined from Dec. 2022 (C$82.17 Mil) to Dec. 2023 (C$53.89 Mil).

New Found Gold Cash And Cash Equivalents Historical Data

The historical data trend for New Found Gold's Cash And Cash Equivalents can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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New Found Gold Cash And Cash Equivalents Chart

New Found Gold Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Cash And Cash Equivalents

7.34

47.73

100.49

82.17

53.89

New Found Gold Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Cash And Cash Equivalents	Get a 7-Day Free Trial														82.17	56.17	41.47	25.97	53.89

New Found Gold Cash And Cash Equivalents Calculation

Cash and cash equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash, such as money market holdings, short-term government bonds or Treasury bills, marketable securities and commercial paper.

New Found Gold (TSXV:NFG) Cash And Cash Equivalents Explanation

A high number means either:

1) The company has competitive advantage generating lots of cash

2) Just sold a business or bonds (not necessarily good)

A low stockpile of cash usually means poor to mediocre economics.

There are 3 ways to create large cash reserve.

1) Sell new bonds or equity to public

2) Sell business or asset

3) It has an ongoing business generating more cash than it burns (usually means durable competitive advantage)

When a company is suffering a short term problem, Buffett looks at cash or marketable securities to see whether it has the financial strength to ride it out.

Important: Lots of cash and marketable securities + little debt = good chance that the business will sail on through tough times.

Test to see what is creating cash by looking at past 7 yrs of balance sheets. This will reveal how the cash was created.

Be Aware

Depreciation estimates make the calculation of net income susceptible to management's accounting choices. These choices can be either overly aggressive or overly conservative.

New Found Gold Cash And Cash Equivalents Related Terms

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New Found Gold (TSXV:NFG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » New Found Gold Corp (TSXV:NFG) » Definitions » Cash And Cash Equivalents

Comparable Companies

Traded in Other Exchanges

NFGC:USA 5QG:Germany

Address

1600 - 595 Burrard Street, Vancouver, BC, CAN, V6C 2V6

Website

https://www.newfoundgold.ca

New Found Gold Corp is a mineral exploration company engaged in the acquisition, exploration and evaluation of resource properties with a focus on gold properties located in the Provinces of Newfoundland and Labrador and Ontario, Canada. The Company's exploration is focused on discovering and delineating gold resources. The Company has one material property: the Queensway Project located in Newfoundland, Canada (the Queensway Project).