Scotiabank Cuts Earnings Estimates for NovaGold Resources

NovaGold Resources Inc. (TSE:NG) – Scotiabank dropped their FY2026 earnings per share estimates for shares of NovaGold Resources in a note issued to investors on Tuesday, October 13th. Scotiabank analyst O. Habib now forecasts that the company will earn ($0.40) per share for the year, down from their previous estimate of ($0.24). Scotiabank also issued estimates for NovaGold Resources’ FY2027 earnings at ($0.33) EPS.

Separately, B. Riley Financial upgraded shares of NovaGold Resources to a “strong-buy” rating in a research report on Monday, August 3rd. Three analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat.com, NovaGold Resources presently has a consensus rating of “Strong Buy” and an average price target of C$18.00.

NovaGold Resources Stock Up 5.0%

TSE NG opened at C$9.30 on Friday. The company has a fifty day moving average of C$10.58 and a two-hundred day moving average of C$10.62. The firm has a market capitalization of C$4.08 billion, a price-to-earnings ratio of -44.29 and a beta of 4.11. NovaGold Resources has a 52 week low of C$7.12 and a 52 week high of C$19.69.

NovaGold Resources Company Profile

NOVAGOLD is a well-financed precious metals company focused on the development of the Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. With approximately 40 million ounces of gold in the Measured and Indicated Mineral Resource categories (560 million tonnes at an average grade of approximately 2.22 grams per tonne, in the Measured and Indicated Mineral Resource categories on a 100% basis)5, inclusive of Proven and Probable Mineral Reserves, the Donlin Gold project is regarded to be one of the largest, highest-grade, and most prospective known open-pit gold deposits in the world.