What is New Found Gold Corp.'s Shariah compliance score?

New Found Gold Corp.'s (NFGC) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does New Found Gold Corp. pass AAOIFI screening?

New Found Gold Corp. (NFGC) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (NFGC: 0.3%), (3) interest-bearing deposits below 30% (NFGC: 20.1%), and (4) prohibited income below 5% (NFGC: 24.4%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for New Found Gold Corp. stock?

New Found Gold Corp. (NFGC) has a non-permissible income ratio of 24.42%. Muslim investors should purify this percentage of any dividends received and capital gains realized from NFGC shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

Where can I screen New Found Gold Corp. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for New Found Gold Corp. (NFGC) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about NFGC's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

NFGC: Is New Found Gold Corp. Halal?

New Found Gold Corp.

AMEXBasic MaterialsCA

$1.37

-7.43%

Market Cap: 336.0M

Compliance Status

Not Halal

Screened on Jul 17, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is New Found Gold Corp. (NFGC) halal? Not Halal. Based on AAOIFI screening, New Found Gold Corp. passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Well clear of the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

0.3% of 30.0% limit

What this means for you

Most scholars advise not holding NFGC

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About New Found Gold Corp.

New Found Gold Corp. operates as a mining exploration company, primarily engaged in identifying, acquiring, and investigating mineral properties, with a specific emphasis on gold deposits. Its operations span the Canadian provinces of Newfoundland and Labrador, and Ontario. The company holds 100% ownership of two significant projects: The Queensway project, located near Gander, Newfoundland, which covers an extensive 151,030 hectares through 86 mineral licenses and 6,041 claims. The Lucky Strike project, an 11,684-hectare site situated in Kirkland Lake, Ontario. Established in 2016, the firm was originally known as Palisade Resources Corp. before officially changing its name to New Found Gold Corp. in June 2017. Its corporate headquarters are located in Vancouver, Canada.

Sector: Basic Materials · Industry: Gold

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 17, 2026

Compliance History

Not Halalnow
since Jun 2026
Halal
until the change above
Not Halal
until the change above

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: FY 2025Data source: FMP

Halal Alternatives in Basic Materials

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

NWPXA+

NWPX Infrastructure, Inc.

$120.30

-0.24%

CRMLA+

Critical Metals Corp.

$10.15

+0.79%

GROYA+

Gold Royalty Corp.

$3.22

-1.44%

IDRA+

Idaho Strategic Resources, Inc.

$35.44

-1.80%

HLA+

Hecla Mining Company

$15.40

-0.90%

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Frequently Asked Questions

Is New Found Gold Corp. (NFGC) halal to invest in?

New Found Gold Corp. (NFGC) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did New Found Gold Corp. get a F compliance rating?

New Found Gold Corp. (NFGC) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 0.3% (limit 30%); interest-bearing deposits of 20.1% (limit 30%); prohibited income of 24.42% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change New Found Gold Corp.'s Shariah verdict?

New Found Gold Corp.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is New Found Gold Corp. re-screened for Shariah compliance?

New Found Gold Corp. (NFGC) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jul 17, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.