The Magpies have made it clear they are monitoring the striker's future after his failed move to Liverpool, having balked at Lyon forward Alexandre Lacazette's demands.
With Arsenal and Tottenham cooling their previous interest and parent club QPR not looking to use him, a move back to Tyneside — where he scored 14 goals last season — could be his only viable option.
"I am surprised about what's happened with Loic because I thought he was signing for Liverpool and that door was slammed shut," Pardew said. "I didn’t expect that, and we certainly had no problem with Loic during his time with us. So we shall monitor it as we go along."
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On needing a new striker, he added: "Looking at our squad, we're still shy of a striker. That would be ideal. If we could get one that suited the club, we'll take that forward. I'm really pleased with the work we've done in the summer. It's far removed from the team that finished last year, and rightly so. Hopefully, we've invested well."