Scotiabank Comments on Novagold Resources FY2026 Earnings

Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) – Research analysts at Scotiabank decreased their FY2026 earnings per share (EPS) estimates for shares of Novagold Resources in a note issued to investors on Tuesday, October 13th. Scotiabank analyst O. Habib now anticipates that the mining company will earn ($0.28) per share for the year, down from their previous forecast 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) (TSE:NG) last issued its earnings results on Thursday, October 8th. The mining company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01).

NG has been the subject of a number of other research reports. Morgan Stanley dropped their price objective on shares of Novagold Resources from $13.60 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, October 7th. B. Riley Financial initiated coverage on shares of Novagold Resources in a research report on Monday, August 3rd. They set a “buy” rating and a $9.00 price objective for the company. One equities 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. Based on data from MarketBeat, Novagold Resources has an average rating of “Buy” and a consensus target price of $12.25.

Novagold Resources Stock Up 5.3%

NYSEAMERICAN NG opened at $6.56 on Friday. Novagold Resources has a 52 week low of $5.07 and a 52 week high of $14.40. The company has a quick ratio of 44.51, a current ratio of 44.51 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $7.57 and its 200-day simple moving average is $7.62. The firm has a market cap of $2.88 billion, a PE ratio of -31.24 and a beta of 0.95.

Institutional Trading of Novagold Resources

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in Novagold Resources by 32,405.9% in the first quarter. Principal Financial Group Inc. now owns 5,722,006 shares of the mining company’s stock worth $51,380,000 after acquiring an additional 5,704,403 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Novagold Resources in the 1st quarter valued at $7,972,000. Bank of New York Mellon Corp acquired a new position in shares of Novagold Resources in the 2nd quarter valued at $5,197,000. Amundi lifted its stake in shares of Novagold Resources by 11.5% in the 1st quarter. Amundi now owns 5,050,474 shares of the mining company’s stock valued at $45,353,000 after purchasing an additional 521,388 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. purchased a new position in shares of Novagold Resources during the 2nd quarter worth $1,958,000. Hedge funds and other institutional investors own 57.56% of the company’s stock.

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.