Eddie Howe remains keen to add a forward or two to his squad before the end of the transfer window but Newcastle have been left frustrated on that front.
Newcastle have been priced out of moves for several attackers this summer due to high demands from clubs and agents.
They remain in the market for a striker and have been looking at a number of players across Europe.
It has been claimed that Newcastle are tracking 19-year-old Hojlund, who plays for Sturm Graz, in the ongoing transfer window.
The Austrian side signed him in January this year and he scored five times in the second half of last season in the Austrian Bundesliga.
He is highly rated across Europe and has scored twice in the first three games of the league this term.
The Denmark Under-19 international is on Newcastle’s radar but it is unclear whether they will try to sign him this summer.
Howe wants to bring in someone who can make an impact on the first team in the ongoing campaign.