B. Riley Weighs in on Novagold Resources FY2025 Earnings

Novagold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG - Stock analysts at B. Riley issued their FY2025 EPS estimates for shares of Novagold Resources in a research note issued on Tuesday, June 24th. B. Riley analyst N. Giles forecasts that the mining company will post earnings per share of ($0.14) for the year. B. Riley also issued estimates for Novagold Resources' FY2027 earnings at ($0.12) EPS.

A number of other brokerages also recently commented on NG. National Bank Financial upgraded Novagold Resources to a "hold" rating in a research report on Friday, March 21st. Royal Bank Of Canada raised Novagold Resources from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $5.00 to $7.00 in a research note on Wednesday, June 4th.

Novagold Resources Stock Down 5.1%

Shares of NYSEAMERICAN NG opened at $3.70 on Thursday. The firm has a 50-day simple moving average of $3.96 and a 200-day simple moving average of $3.48. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -28.46 and a beta of 0.63. Novagold Resources has a 52 week low of $2.26 and a 52 week high of $5.06.

Hedge Funds Weigh In On Novagold Resources

Institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Novagold Resources by 21.0% in the first quarter. Principal Financial Group Inc. now owns 16,415 shares of the mining company's stock worth $48,000 after acquiring an additional 2,848 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Novagold Resources by 2.8% in the fourth quarter. Mackenzie Financial Corp now owns 144,463 shares of the mining company's stock valued at $483,000 after purchasing an additional 3,871 shares during the period. MetLife Investment Management LLC grew its stake in Novagold Resources by 3.7% during the 1st quarter. MetLife Investment Management LLC now owns 136,723 shares of the mining company's stock worth $399,000 after purchasing an additional 4,880 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Novagold Resources by 1.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 289,715 shares of the mining company's stock worth $846,000 after purchasing an additional 4,896 shares in the last quarter. Finally, Significant Wealth Partners LLC increased its holdings in Novagold Resources by 20.9% during the 1st quarter. Significant Wealth Partners LLC now owns 38,546 shares of the mining company's stock worth $113,000 after purchasing an additional 6,670 shares during the period. 57.56% of the stock is owned by institutional investors and hedge funds.

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.

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