Eddie Howe’s side have just completed the signing of winger Gordon from Everton for a fee of £45m and are also moving to add right-back Ashby.
Ashby will join from fellow Premier League club West Ham United and it had been thought that would mark the end of Newcastle’s January business.
That is not the case though and Newcastle are still in the market to sign a midfielder.
Howe’s side will be targeting the loan market as they bid to bring in a midfielder before the transfer window slams shut on Tuesday night.
It remains to be seen what targets the Magpies have in mind as the transfer window winds down.
Newcastle are chasing a top four finish in the Premier League along with aiming to win the EFL Cup, where they face Southampton in the semi-final.
Howe’s side won the first leg 1-0 away at Southampton and face the Saints in the return at St James’ Park on Tuesday.