Novagold Resources FY2026 EPS Forecast Raised by Scotiabank

Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) – Research analysts at Scotiabank raised their FY2026 earnings estimates for Novagold Resources in a report released on Friday, April 10th. Scotiabank analyst F. Costanzo now anticipates that the mining company will post earnings of ($0.22) per share for the year, up from their previous forecast of ($0.25). Scotiabank has a “Sector Outperform” rating on the stock. Scotiabank also issued estimates for Novagold Resources’ FY2027 earnings at ($0.22) EPS.

Other research analysts have also recently issued reports about the stock. Morgan Stanley assumed coverage on shares of Novagold Resources in a report on Thursday, April 9th. They issued an “overweight” rating and a $13.80 target price for the company. Zacks Research raised shares of Novagold Resources from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. B. Riley Financial lifted their target price on shares of Novagold Resources from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Canaccord Genuity Group assumed coverage on shares of Novagold Resources in a report on Friday, March 27th. They issued a “speculative buy” rating and a $13.00 target price for the company. Finally, Royal Bank Of Canada decreased their target price on shares of Novagold Resources from $18.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, March 19th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.26.

Novagold Resources Trading Up 3.6%

NYSEAMERICAN:NG opened at $10.13 on Tuesday. Novagold Resources has a one year low of $2.84 and a one year high of $14.40. The company has a debt-to-equity ratio of 0.38, a current ratio of 88.72 and a quick ratio of 88.72. The company’s 50-day simple moving average is $10.20 and its 200 day simple moving average is $9.73. The firm has a market capitalization of $4.44 billion, a P/E ratio of -38.96 and a beta of 0.90.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its position in Novagold Resources by 3.4% during the fourth quarter. Invesco Ltd. now owns 186,983 shares of the mining company’s stock valued at $1,743,000 after purchasing an additional 6,154 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Novagold Resources during the fourth quarter valued at approximately $121,000. Mackenzie Financial Corp lifted its position in Novagold Resources by 73.0% during the fourth quarter. Mackenzie Financial Corp now owns 368,038 shares of the mining company’s stock valued at $3,465,000 after purchasing an additional 155,336 shares during the period. Empowered Funds LLC lifted its position in Novagold Resources by 70.6% during the fourth quarter. Empowered Funds LLC now owns 30,978 shares of the mining company’s stock valued at $289,000 after purchasing an additional 12,816 shares during the period. Finally, Wellington Management Group LLP lifted its position in Novagold Resources by 2.5% during the fourth quarter. Wellington Management Group LLP now owns 1,273,964 shares of the mining company’s stock valued at $11,873,000 after purchasing an additional 30,528 shares during the period. Institutional investors own 57.56% of the company’s stock.

Insider Transactions at Novagold Resources

In other news, Director Dawn Patricia Whittaker bought 4,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was acquired at an average cost of $9.36 per share, with a total value of $37,440.00. Following the completion of the acquisition, the director owned 4,000 shares of the company’s stock, valued at approximately $37,440. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.67% of the company’s stock.

About Novagold Resources

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.