Scotiabank Forecasts Novagold Resources FY2026 Earnings

Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) – Analysts at Scotiabank issued their FY2026 earnings per share (EPS) estimates for Novagold Resources in a research note issued on Wednesday, February 11th. Scotiabank analyst F. Costanzo forecasts that the mining company will post earnings of ($0.25) per share for the year. Scotiabank currently has a “Sector Outperform” rating on the stock. Scotiabank also issued estimates for Novagold Resources’ FY2027 earnings at ($0.24) EPS.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets began coverage on shares of Novagold Resources in a report on Tuesday, November 4th. They issued an “outperform” rating for the company. National Bank Financial raised Novagold Resources from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, October 29th. B. Riley Financial increased their price target on Novagold Resources from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Finally, Zacks Research lowered Novagold Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.83.

Novagold Resources Stock Up 5.7%

Novagold Resources stock opened at $10.75 on Monday. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of -43.00 and a beta of 0.82. The company’s 50 day simple moving average is $9.92 and its 200 day simple moving average is $8.63. The company has a debt-to-equity ratio of 1.02, a current ratio of 23.79 and a quick ratio of 23.79. Novagold Resources has a fifty-two week low of $2.26 and a fifty-two week high of $12.09.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new position in Novagold Resources in the 1st quarter valued at approximately $44,000. AQR Capital Management LLC increased its position in Novagold Resources by 103.9% in the 1st quarter. AQR Capital Management LLC now owns 43,740 shares of the mining company’s stock valued at $128,000 after acquiring an additional 22,289 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Novagold Resources by 1.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 289,715 shares of the mining company’s stock valued at $846,000 after acquiring an additional 4,896 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Novagold Resources during the first quarter valued at $157,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Novagold Resources by 13.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,766,867 shares of the mining company’s stock worth $5,159,000 after purchasing an additional 210,631 shares during the period. Institutional investors and hedge funds own 57.56% of the company’s stock.

Insider Buying and Selling at Novagold Resources

In related news, Director Dawn Patricia Whittaker acquired 4,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was acquired at an average cost of $9.36 per share, for a total transaction of $37,440.00. Following the transaction, the director directly owned 4,000 shares in the company, valued at $37,440. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.39% of the company’s stock.

Novagold Resources Company Profile

Novagold Resources Inc is a mineral exploration and development company headquartered in Vancouver, British Columbia. The firm is focused on advancing large-scale precious metals projects through disciplined project management, environmental stewardship and community engagement. Novagold maintains a lean corporate structure while leveraging partnerships and industry expertise to advance its projects toward production.

The company’s flagship asset is the Donlin Gold project in Alaska, a 50/50 joint venture with Barrick Gold Corporation.