Novagold Resources New ( (TSE:NG) ) just unveiled an update.
On May 6, 2025, NOVAGOLD announced its intention to offer and sell up to 43,500,000 common shares in a public offering, with an additional option for underwriters to purchase up to 6,525,000 more shares. The proceeds from this offering, alongside a concurrent private placement to major shareholders, are intended to fund the acquisition of an additional 10% ownership interest in Donlin Gold LLC and for general corporate purposes, including updating the feasibility study. This move is part of NOVAGOLD’s strategy to strengthen its position in the precious metals industry and advance the development of the Donlin Gold project.
Spark’s Take on TSE:NG Stock
According to Spark, TipRanks’ AI Analyst, TSE:NG is a Underperform.
NovaGold Resources’ stock score is primarily driven by its poor financial performance, marked by no revenue and negative equity. While technical momentum is strong, it’s offset by significant risks, including litigation and project delays. Valuation is weak due to negative earnings and no dividend yield.
To see Spark’s full report on TSE:NG stock, click here.
More about Novagold Resources New
NOVAGOLD is a precious metals company focused on the development of the Donlin Gold project, located in Alaska, which is considered one of the largest and highest-grade open-pit gold deposits globally.
Average Trading Volume: 366,734
Technical Sentiment Signal: Buy
Current Market Cap: C$1.9B
Find detailed analytics on NG stock on TipRanks’ Stock Analysis page.