FY2025 EPS Forecast for Novagold Resources Boosted by Analyst

Key Points

• Analysts at National Bank Financial have raised Novagold Resources' FY2025 earnings per share forecast from ($0.12) to ($0.11).
• Citi and Royal Bank of Canada both issued positive ratings for Novagold, with RBC upgrading its target price from $5.00 to $7.00.
• Insider transactions revealed that Director Hume D. Kyle acquired 10,000 shares, increasing their ownership by 80.98% at an average price of $4.10 per share.

Novagold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG - Investment analysts at National Bank Financial lifted their FY2025 EPS estimates for shares of Novagold Resources in a report released on Tuesday, September 9th. National Bank Financial analyst R. Nizami now forecasts that the mining company will post earnings per share of ($0.11) for the year, up from their previous estimate of ($0.12). National Bank Financial also issued estimates for Novagold Resources' FY2026 earnings at ($0.11) EPS and FY2027 earnings at ($0.07) EPS.

A number of other analysts have also commented on NG. Citigroup assumed coverage on Novagold Resources in a research report on Wednesday, July 16th. They issued a "buy" rating and a $7.00 price objective for the company. Royal Bank Of Canada upgraded shares of Novagold Resources from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $5.00 to $7.00 in a research report on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $7.00.

Novagold Resources Trading Up 0.9%

Shares of NYSEAMERICAN NG traded up $0.07 during midday trading on Friday, hitting $7.21. The stock had a trading volume of 1,400,346 shares, compared to its average volume of 3,596,399. The company's 50-day simple moving average is $5.95 and its 200 day simple moving average is $4.41. The firm has a market cap of $2.93 billion, a P/E ratio of -30.02 and a beta of 0.66. Novagold Resources has a fifty-two week low of $2.26 and a fifty-two week high of $7.33. The company has a debt-to-equity ratio of 0.96, a current ratio of 76.72 and a quick ratio of 76.72.

Hedge Funds Weigh In On Novagold Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. boosted its position in Novagold Resources by 803.9% in the second quarter. Osaic Holdings Inc. now owns 137,024 shares of the mining company's stock worth $560,000 after purchasing an additional 121,864 shares during the last quarter. Marex Group plc purchased a new position in shares of Novagold Resources in the 2nd quarter worth about $86,000. Tower Research Capital LLC TRC boosted its holdings in shares of Novagold Resources by 305.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 31,479 shares of the mining company's stock worth $129,000 after buying an additional 23,720 shares during the last quarter. Vident Advisory LLC boosted its holdings in shares of Novagold Resources by 3.9% in the 2nd quarter. Vident Advisory LLC now owns 267,484 shares of the mining company's stock worth $1,094,000 after buying an additional 10,078 shares during the last quarter. Finally, Hara Capital LLC boosted its holdings in shares of Novagold Resources by 3,776.9% in the 2nd quarter. Hara Capital LLC now owns 71,956 shares of the mining company's stock worth $294,000 after buying an additional 70,100 shares during the last quarter. Hedge funds and other institutional investors own 57.56% of the company's stock.

Insider Buying and Selling

In other Novagold Resources news, Director Hume D. Kyle purchased 10,000 shares of Novagold Resources stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average price of $4.10 per share, with a total value of $41,000.00. Following the transaction, the director owned 22,348 shares in the company, valued at $91,626.80. This trade represents a 80.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.39% of the company's stock.

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.