New Total Stockholder Equity vs Short Term Investments Analysis

NFG Stock  CAD 2.53  0.11  4.55%   
New Found financial indicator trend analysis is infinitely more than just investigating New Found Gold recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether New Found Gold is a good investment. Please check the relationship between New Found Total Stockholder Equity and its Short Term Investments accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Found Gold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Total Stockholder Equity vs Short Term Investments

Total Stockholder Equity vs Short Term Investments Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of New Found Gold Total Stockholder Equity account and Short Term Investments. At this time, the significance of the direction appears to have very strong relationship.
The correlation between New Found's Total Stockholder Equity and Short Term Investments is 0.83. Overlapping area represents the amount of variation of Total Stockholder Equity that can explain the historical movement of Short Term Investments in the same time period over historical financial statements of New Found Gold, assuming nothing else is changed. The correlation between historical values of New Found's Total Stockholder Equity and Short Term Investments is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Total Stockholder Equity of New Found Gold are associated (or correlated) with its Short Term Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Short Term Investments has no effect on the direction of Total Stockholder Equity i.e., New Found's Total Stockholder Equity and Short Term Investments go up and down completely randomly.

Correlation Coefficient

0.83
Relationship DirectionPositive 
Relationship StrengthStrong

Total Stockholder Equity

The total equity held by shareholders, calculated as the difference between a company's total assets and total liabilities. It represents the net value of the company owned by shareholders.

Short Term Investments

Short Term Investments is an item under the current assets section of New Found balance sheet. It contains any investments New Found Gold undertook that will expire in less than one year. These accounts contain financial instruments such as stocks or bonds that New Found Gold can easily liquidate in the marketplace.
Most indicators from New Found's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into New Found Gold current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Found Gold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
Selling General Administrative is likely to climb to about 10.5 M in 2024, whereas Issuance Of Capital Stock is likely to drop slightly above 66 M in 2024.
 2021 2022 2023 2024 (projected)
Total Operating Expenses56.7M88.7M104.1M64.2M
Cost Of Revenue582.9K880.4K940.2K560.1K

New Found fundamental ratios Correlations

1.00.82-0.80.840.850.790.770.840.860.810.750.950.830.90.860.37-0.810.950.750.950.90.66-0.32-0.32
1.00.84-0.840.870.870.810.760.850.870.80.740.970.820.930.890.35-0.830.940.740.970.920.64-0.36-0.36
0.820.84-0.930.920.920.990.881.00.970.930.920.930.930.910.970.56-0.720.90.920.920.960.85-0.66-0.66
-0.8-0.84-0.93-0.99-0.94-0.91-0.66-0.94-0.95-0.76-0.72-0.92-0.75-0.94-0.99-0.240.8-0.82-0.72-0.93-0.94-0.610.790.79
0.840.870.92-0.990.960.880.650.930.960.750.710.930.750.940.980.2-0.850.850.710.940.920.6-0.77-0.77
0.850.870.92-0.940.960.880.750.950.990.840.790.950.840.930.950.36-0.920.930.790.940.920.71-0.69-0.69
0.790.810.99-0.910.880.880.890.990.940.930.930.90.920.880.950.6-0.640.860.930.890.940.86-0.63-0.63
0.770.760.88-0.660.650.750.890.870.810.990.990.80.990.740.770.86-0.540.880.990.790.830.98-0.27-0.27
0.840.851.0-0.940.930.950.990.870.980.930.910.940.920.920.980.54-0.750.910.910.940.960.84-0.67-0.67
0.860.870.97-0.950.960.990.940.810.980.890.860.960.890.940.980.45-0.860.940.860.950.950.78-0.69-0.69
0.810.80.93-0.760.750.840.930.990.930.890.990.861.00.810.840.79-0.630.920.990.850.880.97-0.4-0.4
0.750.740.92-0.720.710.790.930.990.910.860.990.810.990.760.810.83-0.550.881.00.80.850.99-0.39-0.39
0.950.970.93-0.920.930.950.90.80.940.960.860.810.860.990.970.41-0.870.960.811.00.980.71-0.52-0.52
0.830.820.93-0.750.750.840.920.990.920.891.00.990.860.80.840.77-0.640.930.990.850.880.96-0.38-0.38
0.90.930.91-0.940.940.930.880.740.920.940.810.760.990.80.970.34-0.860.910.760.990.980.65-0.56-0.56
0.860.890.97-0.990.980.950.950.770.980.980.840.810.970.840.970.37-0.810.890.810.970.980.71-0.7-0.7
0.370.350.56-0.240.20.360.60.860.540.450.790.830.410.770.340.37-0.120.540.830.390.470.90.050.05
-0.81-0.83-0.720.8-0.85-0.92-0.64-0.54-0.75-0.86-0.63-0.55-0.87-0.64-0.86-0.81-0.12-0.85-0.55-0.87-0.79-0.460.540.54
0.950.940.9-0.820.850.930.860.880.910.940.920.880.960.930.910.890.54-0.850.880.950.920.81-0.41-0.41
0.750.740.92-0.720.710.790.930.990.910.860.991.00.810.990.760.810.83-0.550.880.80.850.99-0.39-0.39
0.950.970.92-0.930.940.940.890.790.940.950.850.81.00.850.990.970.39-0.870.950.80.980.7-0.53-0.53
0.90.920.96-0.940.920.920.940.830.960.950.880.850.980.880.980.980.47-0.790.920.850.980.75-0.56-0.56
0.660.640.85-0.610.60.710.860.980.840.780.970.990.710.960.650.710.9-0.460.810.990.70.75-0.32-0.32
-0.32-0.36-0.660.79-0.77-0.69-0.63-0.27-0.67-0.69-0.4-0.39-0.52-0.38-0.56-0.70.050.54-0.41-0.39-0.53-0.56-0.321.0
-0.32-0.36-0.660.79-0.77-0.69-0.63-0.27-0.67-0.69-0.4-0.39-0.52-0.38-0.56-0.70.050.54-0.41-0.39-0.53-0.56-0.321.0
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New Found Account Relationship Matchups

New Found fundamental ratios Accounts

201920202021202220232024 (projected)
Other Current Liab21.7K185.4K10.1M21.5M12.4M7.0M
Total Current Liabilities392.8K635.1K12.8M27.1M19.0M9.6M
Net Tangible Assets955.2K9.0M72.9M122.7M141.1M148.1M
Retained Earnings(6.4M)(39.0M)(89.6M)(179.6M)(259.5M)(246.5M)
Accounts Payable371.2K396.5K2.5M5.3M6.1M6.4M
Net Receivables274.3K337.2K2.8K1.8M2.1M2.2M
Other Stockholder Equity530.6K4.7M24.2M30.5M35.0M36.8M
Total Current Assets8.2M71.2M136.5M94.3M62.4M59.0M
Common Stock2.8M10.7M87.7M181.8M209.1M219.5M
Property Plant Equipment719.3K1.1M2.4M11.5M13.3M13.9M

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