Scotiabank Weighs in on Novagold Resources FY2026 Earnings

Key Points

• Scotiabank lowered Novagold Resources’ FY2026 EPS estimate to a loss of $0.28 from $0.17 previously, below the consensus estimate of a $0.13 loss; it projects a $0.23 loss for FY2027.
• Novagold reported a quarterly loss of $0.08 per share, missing analysts’ $0.07-loss estimate by $0.01. Despite the miss, analysts maintain a consensus “Buy” rating with a $12.25 target price.
• The stock opened at $6.56, well below its 52-week high of $14.40, while institutional investors and hedge funds own 57.56% of shares. Novagold is focused on developing the Donlin Gold project in Alaska and currently has no producing mines.

Novagold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG - Analysts at Scotiabank cut their FY2026 earnings estimates for shares of Novagold Resources in a research report issued on Tuesday, October 13th. Scotiabank analyst O. Habib now anticipates that the mining company will post earnings per share of ($0.28) for the year, down from their prior estimate of ($0.17). The consensus estimate for Novagold Resources' current full-year earnings is ($0.13) per share. Scotiabank also issued estimates for Novagold Resources' FY2027 earnings at ($0.23) EPS.

Novagold Resources (NYSEAMERICAN:NG - Get Free Report) TSE: NG last posted its quarterly earnings data on Thursday, October 8th. The mining company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01).

Other analysts have also recently issued research reports about the stock. B. Riley Financial initiated coverage on shares of Novagold Resources in a research note on Monday, August 3rd. They set a "buy" rating and a $9.00 target price for the company. Morgan Stanley decreased their price target on shares of Novagold Resources from $13.60 to $13.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $12.25.

Novagold Resources Stock Performance

NG opened at $6.56 on Friday. The firm's fifty day simple moving average is $7.57 and its two-hundred day simple moving average is $7.62. Novagold Resources has a 52-week low of $5.07 and a 52-week high of $14.40. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -31.24 and a beta of 0.95. The company has a quick ratio of 44.51, a current ratio of 44.51 and a debt-to-equity ratio of 0.46.

Institutional Investors Weigh In On Novagold Resources

A number of hedge funds have recently modified their holdings of NG. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Novagold Resources during the 3rd quarter valued at about $49,000. Mirador Capital Partners LP purchased a new position in Novagold Resources in the 3rd quarter worth approximately $1,231,000. GAMMA Investing LLC lifted its stake in Novagold Resources by 179.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,375 shares of the mining company's stock worth $28,000 after purchasing an additional 2,812 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Novagold Resources by 91.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,851 shares of the mining company's stock worth $32,000 after purchasing an additional 2,322 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new position in Novagold Resources in the 3rd quarter worth approximately $65,000. 57.56% of the stock is currently owned by institutional investors and hedge funds.

About Novagold Resources

Novagold Resources Inc is a Canada-based precious metals exploration and development company focused on advancing the Donlin Gold project in southwest Alaska. The project is held through Donlin Gold LLC, which is owned equally by Novagold and Barrick Gold Corporation. Donlin Gold is one of the largest undeveloped gold deposits in the world and is located on lands owned by the Calista Corporation and The Kuskokwim Corporation.

Novagold does not currently operate producing mines. Its primary activities include project evaluation, permitting, technical studies, exploration, and community and stakeholder engagement related to Donlin Gold.

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