Novagold Resources New ( (TSE:NG) ) just unveiled an announcement.
On May 7, 2025, NOVAGOLD Resources Inc. announced the pricing of its upsized public offering of 47,850,000 common shares at $3.75 per share, with gross proceeds expected to be approximately $179.4 million. Concurrently, the company is conducting a private placement with major investors for additional proceeds of $64.4 million. The funds from both offerings will be used to acquire an additional 10% ownership interest in Donlin Gold LLC and for general corporate purposes. The public offering is expected to close on May 9, 2025, subject to customary conditions.
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. This project is considered one of the largest, highest-grade, and most prospective known open-pit gold deposits in the world.
Average Trading Volume: 381,763
Technical Sentiment Signal: Buy
Current Market Cap: C$1.81B
For detailed information about NG stock, go to TipRanks’ Stock Analysis page.