Scotiabank Forecasts Novagold Resources FY2026 Earnings

Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) – Analysts at Scotiabank issued their FY2026 earnings per share estimates for shares of Novagold Resources in a research note issued to investors on Wednesday, February 11th. Scotiabank analyst F. Costanzo anticipates 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 analysts have also recently issued reports about the company. National Bank Financial raised Novagold Resources from a “sector perform” rating to an “outperform” rating in a report on Wednesday, October 29th. Zacks Research cut shares of Novagold Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. BMO Capital Markets assumed coverage on shares of Novagold Resources in a research note on Tuesday, November 4th. They issued an “outperform” rating for the company. Finally, B. Riley Financial boosted their price objective on shares of Novagold Resources from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Novagold Resources presently has an average rating of “Moderate Buy” and a consensus target price of $10.83.

Novagold Resources Trading Down 4.2%

Shares of NYSEAMERICAN:NG opened at $10.30 on Monday. Novagold Resources has a 12-month low of $2.26 and a 12-month high of $12.09. The stock has a market cap of $4.52 billion, a PE ratio of -41.20 and a beta of 0.82. The business has a 50 day moving average of $9.96 and a 200-day moving average of $8.70. The company has a quick ratio of 23.79, a current ratio of 23.79 and a debt-to-equity ratio of 1.02.

Institutional Trading of Novagold Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in NG. Amitell Capital Pte Ltd bought a new position in shares of Novagold Resources in the second quarter worth approximately $2,355,000. Teacher Retirement System of Texas grew its stake in Novagold Resources by 518.9% in 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 buying an additional 4,000,000 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Novagold Resources by 32.7% in the 3rd quarter. Alps Advisors Inc. now owns 1,645,340 shares of the mining company’s stock worth $14,479,000 after buying an additional 405,843 shares during the last quarter. CapWealth Advisors LLC bought a new position in shares of Novagold Resources in the 3rd quarter worth $616,000. Finally, Sage Rhino Capital LLC raised its position in shares of Novagold Resources by 337.0% during the 3rd quarter. Sage Rhino Capital LLC now owns 139,854 shares of the mining company’s stock valued at $1,231,000 after buying an additional 107,854 shares in the last quarter. 57.56% of the stock is currently owned by institutional investors.

Insider Transactions at Novagold Resources

In other news, Director Dawn Patricia Whittaker purchased 4,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were purchased at an average price of $9.36 per share, with a total value of $37,440.00. Following the transaction, the director directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.39% of the stock is owned by corporate insiders.

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.