New Found Gold (TSXV:NFG) Debt-to-Equity : 0.00 (As of Dec. 2023)

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What is New Found Gold Debt-to-Equity?

New Found Gold's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was C$0.09 Mil. New Found Gold's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was C$0.07 Mil. New Found Gold's Total Stockholders Equity for the quarter that ended in Dec. 2023 was C$65.50 Mil. New Found Gold's debt to equity for the quarter that ended in Dec. 2023 was 0.00.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for New Found Gold's Debt-to-Equity or its related term are showing as below:

TSXV:NFG's Debt-to-Equity is not ranked ^*
in the Metals & Mining industry.
Industry Median: 0.13
* Ranked among companies with meaningful Debt-to-Equity only.

New Found Gold Debt-to-Equity Historical Data

The historical data trend for New Found Gold's Debt-to-Equity 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 Debt-to-Equity Chart

New Found Gold Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-Equity

New Found Gold Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Debt-to-Equity	Get a 7-Day Free Trial														-	-	-	-	-

Competitive Comparison of New Found Gold's Debt-to-Equity

For the Gold subindustry, New Found Gold's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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 Debt-to-Equity Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, New Found Gold's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where New Found Gold's Debt-to-Equity falls into.

New Found Gold Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

New Found Gold's Debt to Equity Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(0.089	+	0.069)	/	65.503
	=	0.00

New Found Gold's Debt to Equity Ratio for the quarter that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(0.089	+	0.069)	/	65.503
	=	0.00

New Found Gold (TSXV:NFG) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

New Found Gold Debt-to-Equity 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 » Debt-to-Equity

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).