Scotiabank Raises Earnings Estimates for Novagold Resources

Key Points

• Scotiabank raised its FY2026 EPS estimate for NovaGold to ($0.30) from ($0.34) and maintained a "Strong‑Buy" rating, also projecting FY2027 EPS of ($0.30).
• Overall analyst sentiment is positive — three Strong Buys and two Buys yield an average "Strong Buy" rating with a C$18.00 average price target; the stock trades around C$13.47 (up 2.4%) with a C$5.91B market cap.
• Insider activity: director Dawn Whittaker purchased 4,000 shares at C$12.79, and corporate insiders collectively own about 26.46% of the company.

Novagold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG - Investment analysts at Scotiabank lifted their FY2026 earnings per share (EPS) estimates for shares of Novagold Resources in a report released on Friday, April 10th. Scotiabank analyst F. Costanzo now forecasts that the mining company will earn ($0.22) per share for the year, up from their previous forecast of ($0.25). Scotiabank has a "Sector Outperform" rating on the stock. Scotiabank also issued estimates for Novagold Resources' FY2027 earnings at ($0.22) EPS.

NG has been the subject of several other reports. Morgan Stanley initiated coverage on Novagold Resources in a research note on Thursday, April 9th. They set an "overweight" rating and a $13.80 price objective for the company. B. Riley Financial upped their price objective on Novagold Resources from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, January 27th. Royal Bank Of Canada reduced their price objective on Novagold Resources from $18.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, March 19th. Zacks Research raised Novagold Resources from a "strong sell" rating to a "hold" rating in a research note on Monday, March 30th. Finally, Canaccord Genuity Group initiated coverage on Novagold Resources in a research note on Friday, March 27th. They set a "speculative buy" rating and a $13.00 target price for the company. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.26.

Novagold Resources Stock Up 3.2%

NG opened at $9.78 on Tuesday. The business has a 50 day moving average price of $10.18 and a two-hundred day moving average price of $9.72. The company has a quick ratio of 88.72, a current ratio of 88.72 and a debt-to-equity ratio of 0.38. The company has a market cap of $4.29 billion, a PE ratio of -37.62 and a beta of 0.90. Novagold Resources has a 52 week low of $2.75 and a 52 week high of $14.40.

Hedge Funds Weigh In On Novagold Resources

A number of large investors have recently modified their holdings of the business. Electrum Group LLC acquired a new stake in shares of Novagold Resources in the 4th quarter worth approximately $865,854,000. Vanguard Group Inc. grew its holdings in shares of Novagold Resources by 23.9% in the 3rd quarter. Vanguard Group Inc. now owns 14,587,516 shares of the mining company's stock worth $128,840,000 after acquiring an additional 2,815,780 shares during the period. UBS Group AG grew its holdings in shares of Novagold Resources by 21.9% in the 3rd quarter. UBS Group AG now owns 13,617,880 shares of the mining company's stock worth $119,837,000 after acquiring an additional 2,443,511 shares during the period. Bank of America Corp DE grew its holdings in shares of Novagold Resources by 520.9% in the 2nd quarter. Bank of America Corp DE now owns 2,906,123 shares of the mining company's stock worth $11,886,000 after acquiring an additional 2,438,052 shares during the period. Finally, Greenwich Wealth Management LLC acquired a new stake in shares of Novagold Resources in the 4th quarter worth approximately $18,640,000. 57.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Novagold Resources news, Director Dawn Patricia Whittaker bought 4,000 shares of the business's stock in a transaction dated Wednesday, February 4th. The stock was acquired at an average cost of $9.36 per share, with a total value of $37,440.00. Following the purchase, the director owned 4,000 shares in the company, valued at approximately $37,440. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.67% of the company's stock.

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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