Novagold Resources (NYSEAMERICAN:NG) Price Target Raised to $11.00

Novagold Resources (NYSEAMERICAN:NG) (TSE:NG) had its target price increased by B. Riley from $9.00 to $11.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the mining company’s stock. B. Riley also issued estimates for Novagold Resources’ Q3 2025 earnings at ($0.04) EPS.

A number of other analysts have also issued reports on NG. Royal Bank Of Canada raised shares of Novagold Resources from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $5.00 to $7.00 in a research note on Wednesday, June 4th. Citigroup assumed coverage on Novagold Resources in a research note on Wednesday, July 16th. They set a “buy” rating and a $7.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $8.33.

Novagold Resources Price Performance

Novagold Resources stock opened at $9.65 on Tuesday. The company has a market cap of $3.93 billion, a price-to-earnings ratio of -38.60 and a beta of 0.77. Novagold Resources has a 52-week low of $2.26 and a 52-week high of $10.44. The company has a quick ratio of 76.72, a current ratio of 76.72 and a debt-to-equity ratio of 0.96. The firm’s fifty day moving average is $6.65 and its 200 day moving average is $4.84.

Institutional Trading of Novagold Resources

Large investors have recently modified their holdings of the stock. Lingotto Investment Management LLP lifted its holdings in 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 during the last quarter. Kopernik Global Investors LLC raised its stake in Novagold Resources by 2.8% during the 2nd 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 position 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 last quarter. Teacher Retirement System of Texas increased its position in shares of Novagold Resources by 518.9% during the second 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 lifted its holdings in shares of Novagold Resources by 54.3% in the 2nd quarter. Amundi now owns 4,306,221 shares of the mining company’s stock valued at $19,292,000 after purchasing an additional 1,515,822 shares during the last quarter. Hedge funds and other institutional investors own 57.56% of the company’s stock.

Novagold Resources Company Profile

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.