FY2025 EPS Forecast for Novagold Resources Lifted by Analyst

Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) – Equities research analysts at National Bank Financial lifted their FY2025 earnings per share (EPS) estimates for Novagold Resources in a research note issued on Tuesday, September 9th. National Bank Financial analyst R. Nizami now anticipates that the mining company will post earnings of ($0.11) per share for the year, up from their prior estimate of ($0.12). National Bank Financial also issued estimates for Novagold Resources’ FY2026 earnings at ($0.11) EPS and FY2027 earnings at ($0.07) EPS.

NG has been the subject of a number of other research reports. Royal Bank Of Canada upgraded Novagold Resources from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $5.00 to $7.00 in a research note on Wednesday, June 4th. Citigroup assumed coverage on shares of Novagold Resources in a report on Wednesday, July 16th. They issued a “buy” rating and a $7.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Novagold Resources presently has a consensus rating of “Buy” and an average price target of $7.00.

Novagold Resources Stock Down 0.9%

Shares of NYSEAMERICAN NG opened at $6.92 on Friday. The business has a 50-day moving average price of $5.84 and a 200 day moving average price of $4.34. The stock has a market cap of $2.82 billion, a PE ratio of -28.83 and a beta of 0.66. The company has a quick ratio of 76.72, a current ratio of 76.72 and a debt-to-equity ratio of 0.96. Novagold Resources has a 52-week low of $2.26 and a 52-week high of $7.05.

Insider Activity at Novagold Resources

In related news, Director Hume D. Kyle purchased 10,000 shares of the business’s stock in a transaction dated Monday, June 30th. The stock was acquired at an average price of $4.10 per share, for a total transaction of $41,000.00. Following the completion of the purchase, the director directly owned 22,348 shares of the company’s stock, valued at $91,626.80. This trade represents a 80.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Novagold Resources

A number of institutional investors have recently added to or reduced their stakes in the business. Lingotto Investment Management LLP raised its stake in shares of Novagold Resources by 60.7% during the 2nd quarter. Lingotto Investment Management LLP now owns 34,902,954 shares of the mining company’s stock worth $142,753,000 after buying an additional 13,180,065 shares in the last quarter. Kopernik Global Investors LLC raised its position in Novagold Resources by 2.8% in the second quarter. Kopernik Global Investors LLC now owns 19,115,209 shares of the mining company’s stock worth $78,181,000 after acquiring an additional 523,479 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Novagold Resources by 0.7% in the first quarter. Vanguard Group Inc. now owns 10,826,126 shares of the mining company’s stock valued at $31,603,000 after acquiring an additional 71,256 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Novagold Resources by 518.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 4,770,816 shares of the mining company’s stock worth $19,513,000 after purchasing an additional 4,000,000 shares in the last quarter. Finally, Amundi boosted its position in shares of Novagold Resources by 54.3% during the 2nd quarter. Amundi now owns 4,306,221 shares of the mining company’s stock worth $19,292,000 after purchasing an additional 1,515,822 shares in the last quarter. Hedge funds and other institutional investors own 57.56% of the company’s stock.

About Novagold Resources

NovaGold Resources Inc explores for and develops gold mineral properties in the United States. Its principal asset is the Donlin Gold project consisting of 493 mining claims covering an area of approximately 29,008 hectares located in the Kuskokwim region of southwestern Alaska. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc in March 1987.