Is NFGC (NFGC) Halal?
Shariah Screening — 5 Standards
Based on financial data from December 2024
| Standard | Debt Ratio | Cash Ratio | Receivables | Income | Status |
|---|---|---|---|---|---|
| AAOIFI | 0.0% / 30% | 2.6% / 30% | 0.6% / 30% | N/A | ✓ HALAL |
| DJIM | 0.0% / 33% | 2.6% / 33% | 0.6% / 33% | N/A | ✓ HALAL |
| MSCI | 0.2% / 33% | 31.2% / 33% | 6.8% / 33% | N/A | ✓ HALAL |
| S&P | 0.0% / 33% | 2.6% / 33% | 0.6% / 33% | N/A | ✓ HALAL |
| FTSE | 0.2% / 33% | 31.2% / 33% | 6.8% / 50% | N/A | ✓ HALAL |
Financial Highlights
Profitability
| Gross Margin | 2.3% | |
| Operating Margin | -362.5% | |
| Net Margin | 0.0% | |
| Return on Equity (ROE) | -19.6% | |
| Return on Assets (ROA) | -12.1% |
Cash Flow & Balance Sheet
| Operating Cash Flow | -$56M |
| Free Cash Flow | -$60M |
| Total Debt | $123,103 |
| Debt-to-Equity | 0.2 |
| Current Ratio | 3.9 |
| Total Assets | $74M |
Price & Trading
| Last Close | $1.68 |
| 50-Day MA | $2.65 |
| 200-Day MA | $2.24 |
| Avg Volume | 2.2M |
|
52-Week Range
$0.93
| |
About NFGC (NFGC)
New Found Gold Corp., a mineral exploration company, engages in the identification, evaluation, acquisition, and exploration of mineral properties in the Provinces of Newfoundland and Labrador, Canada. The company primarily explores for gold deposit. It holds 100% interests in the Queensway project that includes 103 mineral licenses and 7,024 claims covering an area of 175,600 hectares located near Gander, Newfoundland; the Kingsway project located in Gander, Newfoundland; and the Mustang Property consisting of 3 mineral licenses. The company was formerly known as Palisade Resources Corp. and changed its name to New Found Gold Corp. in June 2017. New Found Gold Corp. was incorporated in 2016 and is headquartered in Vancouver, Canada.
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Frequently Asked Questions
Is NFGC (NFGC) halal to invest in?
Based on our screening using AAOIFI Standard 21 (the strictest methodology), NFGC is Halal. The company passes all financial ratio thresholds for debt, cash, receivables, and impermissible income. We screen against all 5 major standards: AAOIFI, DJIM, MSCI, S&P, and FTSE.
What is NFGC's debt ratio?
NFGC's debt ratio is 0.0% under the AAOIFI standard (which uses market capitalization as the denominator). The AAOIFI threshold is 30%. Under MSCI and FTSE (which use total assets as the denominator), the debt ratio is 0.2%.
What are NFGC's key financial metrics?
NFGC has a market capitalization of $623M. Return on equity stands at -19.6%.
How often is the screening data updated?
Our screening data is updated regularly using the latest available financial statements and market data. Stock prices and market caps are refreshed frequently, while financial statements are updated quarterly when companies report earnings.
Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.