New Found Gold (TSXV:NFG) Effective Interest Rate on Debt % : 18.42% (As of Dec. 2023)

View and export this data going back to 2020. Start your Free Trial

What is New Found Gold Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. New Found Gold's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was C$0.03 Mil. New Found Gold's average total debt for the quarter that ended in Dec. 2023 was C$0.15 Mil. Therefore, New Found Gold's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 18.42%.

New Found Gold Effective Interest Rate on Debt % Historical Data

The historical data trend for New Found Gold's Effective Interest Rate on Debt % 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.

* Premium members only.

New Found Gold Effective Interest Rate on Debt % Chart

New Found Gold Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

7.55

9.09

12.75

17.53

New Found Gold Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial														17.58	19.65	18.18	20.36	18.42

Competitive Comparison of New Found Gold's Effective Interest Rate on Debt %

For the Gold subindustry, New Found Gold's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

New Found Gold's Effective Interest Rate on Debt % Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, New Found Gold's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where New Found Gold's Effective Interest Rate on Debt % falls into.

New Found Gold Effective Interest Rate on Debt % Calculation

New Found Gold's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -0.027	/	( (0.15	+	0.158)	/ 2 )
=	-1 * -0.027	/	0.154
=	17.53 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.069	+	0.081
=	0.15

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.069	+	0.089
=	0.158

New Found Gold's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Sep. 2023 )	+	Total Debt (Q: Dec. 2023 ))	/ count )
=	-1 * -0.028	/	( (0.146	+	0.158)	/ 2 )
=	-1 * -0.028	/	0.152
=	18.42 %

where

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.069	+	0.077
=	0.146

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.069	+	0.089
=	0.158

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

New Found Gold (TSXV:NFG) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

New Found Gold Effective Interest Rate on Debt % Related Terms

Thank you for viewing the detailed overview of New Found Gold's Effective Interest Rate on Debt % provided by GuruFocus.com. Please click on the following links to see related term pages.

New Found Gold (TSXV:NFG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » New Found Gold Corp (TSXV:NFG) » Definitions » Effective Interest Rate on Debt %

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).