Scotiabank Comments on Novagold Resources FY2026 Earnings

Key Points

• Scotiabank raised its FY2026 EPS estimate for Novagold Resources to a loss of $0.17 per share from $0.22, while maintaining a “Strong Buy” rating. Its FY2027 estimate is a loss of $0.16 per share, compared with the current-year consensus loss of $0.16.
• Analyst sentiment remains positive overall, with a consensus “Buy” rating and a $13.22 target price; ratings include one Strong Buy, seven Buys and one Hold.
• Novagold shares opened at $5.93, near their 12-month low of $5.07 and well below the $14.40 high. Institutional investors and hedge funds own 57.56% of the company, whose flagship asset is the Donlin Gold project in Alaska, a 50/50 venture with Barrick Gold.

Novagold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG - Analysts at Scotiabank upped their FY2026 EPS estimates for Novagold Resources in a report issued on Thursday, July 23rd. Scotiabank analyst O. Habib now forecasts that the mining company will post earnings per share of ($0.17) for the year, up from their prior estimate of ($0.22). Scotiabank currently has a "Strong-Buy" rating on the stock. The consensus estimate for Novagold Resources' current full-year earnings is ($0.16) per share. Scotiabank also issued estimates for Novagold Resources' FY2027 earnings at ($0.16) EPS.

Other research analysts have also issued reports about the company. Zacks Research raised Novagold Resources from a "strong sell" rating to a "hold" rating in a research report on Monday, March 30th. Morgan Stanley dropped their price objective on Novagold Resources from $13.80 to $13.60 and set an "overweight" rating on the stock in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Novagold Resources currently has a consensus rating of "Buy" and a consensus target price of $13.22.

Novagold Resources Price Performance

Shares of NYSEAMERICAN NG opened at $5.93 on Monday. The company has a current ratio of 112.82, a quick ratio of 112.82 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $2.60 billion, a PE ratio of -34.88 and a beta of 0.84. The stock's fifty day simple moving average is $6.96 and its two-hundred day simple moving average is $8.87. Novagold Resources has a 12-month low of $5.07 and a 12-month high of $14.40.

Novagold Resources (NYSEAMERICAN:NG - Get Free Report) TSE: NG last issued its quarterly earnings data on Wednesday, July 22nd. The mining company reported ($0.06) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Novagold Resources

Large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new stake in shares of Novagold Resources during the 1st quarter valued at $44,000. AQR Capital Management LLC grew its stake in Novagold Resources by 103.9% during the 1st quarter. AQR Capital Management LLC now owns 43,740 shares of the mining company's stock worth $128,000 after buying an additional 22,289 shares during 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 buying an additional 4,896 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Novagold Resources during the 1st quarter valued at about $157,000. Finally, Goldman Sachs Group Inc. increased its position in Novagold Resources by 13.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,766,867 shares of the mining company's stock valued at $5,159,000 after buying an additional 210,631 shares in the last quarter. 57.56% of the stock is owned by institutional investors and hedge funds.

Novagold Resources Company Profile

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.

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