B. Riley Forecasts Novagold Resources FY2025 Earnings

Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) – Stock analysts at B. Riley issued their FY2025 earnings estimates for Novagold Resources in a note issued to investors on Tuesday, June 24th. B. Riley analyst N. Giles expects that the mining company will post earnings of ($0.14) per share for the year. B. Riley also issued estimates for Novagold Resources’ FY2027 earnings at ($0.12) EPS.

A number of other equities analysts have also weighed in on the company. National Bank Financial upgraded Novagold Resources to a “hold” rating in a research note on Friday, March 21st. Royal Bank Of Canada upgraded Novagold Resources from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $5.00 to $7.00 in a research note on Wednesday, June 4th.

Novagold Resources Price Performance

Shares of NG stock opened at $4.08 on Thursday. The company’s fifty day simple moving average is $4.00 and its two-hundred day simple moving average is $3.48. Novagold Resources has a 1 year low of $2.26 and a 1 year high of $5.06. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -17.00 and a beta of 0.63.

Hedge Funds Weigh In On Novagold Resources

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Kopernik Global Investors LLC lifted its holdings in Novagold Resources by 23.1% in the 4th quarter. Kopernik Global Investors LLC now owns 17,006,844 shares of the mining company’s stock worth $56,633,000 after buying an additional 3,187,981 shares during the period. Empyrean Capital Partners LP lifted its holdings in Novagold Resources by 239.1% in the 1st quarter. Empyrean Capital Partners LP now owns 1,933,066 shares of the mining company’s stock worth $5,645,000 after buying an additional 1,363,066 shares during the period. Alps Advisors Inc. lifted its holdings in Novagold Resources by 458.9% in the 1st quarter. Alps Advisors Inc. now owns 1,143,199 shares of the mining company’s stock worth $3,338,000 after buying an additional 938,639 shares during the period. Nuveen LLC purchased a new stake in Novagold Resources in the 1st quarter worth approximately $2,539,000. Finally, Lingotto Investment Management LLP lifted its holdings in Novagold Resources by 3.5% in the 4th quarter. Lingotto Investment Management LLP now owns 20,902,054 shares of the mining company’s stock worth $69,604,000 after buying an additional 702,636 shares during the period. 57.56% of the stock is currently owned by institutional investors.

Novagold Resources Company Profile

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.