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Novagold Resources Inc New (TSE:NG)
TSX:NG
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Novagold Resources New
(TSX:NG)
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Rating:40Underperform
Price Target:―
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.
Novagold Resources New (NG) vs. iShares MSCI Canada ETF (EWC)
Market Cap
$5.68B
Dividend YieldN/A
Average Volume (3M)879.91K
Price to Earnings (P/E)―
Beta (1Y)2.12
Revenue GrowthN/A
EPS Growth-92.71%
CountryCA
Employees14
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.06
Shares Outstanding406,927,000
10 Day Avg. Volume1,077,522
30 Day Avg. Volume879,907
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap0.68
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-175.84K
Enterprise Value/Ebitda-55.09
Forecast
1Y Price Target
$12.26Price Target Upside-8.76% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering4
Novagold Resources New Business Overview & Revenue Model
Company DescriptionNovaGold 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. NovaGold Resources Inc. was incorporated in 1984 and is based in Vancouver, Canada.
How the Company Makes MoneyNovaGold Resources Inc. primarily makes money through the exploration and development of its key gold asset, the Donlin Gold project. Revenue generation for the company is expected to come from the eventual production and sale of gold extracted from this project. The company currently relies on strategic partnerships, most notably with Barrick Gold Corporation, to share the costs and risks associated with developing such a large-scale mining operation. Until production begins, NovaGold's financial strategy involves securing funding from investors and partners to continue its development activities and maintain operational stability.
Novagold Resources New Earnings Call Summary
Earnings Call Date:Oct 01, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Jan 28, 2026
Earnings Call Sentiment Neutral
The earnings call presented a significant positive outlook for the Donlin Gold project with strategic advancements and strong institutional support. However, financial metrics such as increased net loss and decreased treasury present challenges.Q3-2025 Updates
Positive Updates
Significant Progress in Donlin Gold Project
NovaGold's chairman, Dr. Thomas Kaplan, announced that the company is on the path to building the largest single gold mine in the United States, with strategic partnerships and funding opportunities. The project is expected to begin construction in 2027 with production targeted for 2030.
Successful Drill Program Completion
The company completed an 18,000+ meter drill program with high-grade intervals up to 23 grams per ton, indicating potential upside in the Donlin ore bodies.
Strong Institutional Shareholder Support
Over 60% of NovaGold shares are held by top institutional investors, indicating strong support and confidence in the company's future prospects.
Negative Updates
Increased Net Loss
NovaGold reported a net loss of $15.6 million in 2025, an increase of $4.9 million from the prior year, primarily due to higher field expenses and general and administrative expenses.
Decreased Treasury
The company's treasury decreased by $193.5 million to $125.2 million at the end of the third quarter, primarily due to the acquisition of an additional 10% of Donlin Gold.
Company Guidance
During NovaGold's 2025 Third Quarter Report and Donlin Gold Update call, the company outlined several key financial and operational metrics. NovaGold reported a net loss of $15.6 million, an increase of $4.9 million from the previous year, primarily due to higher field and administrative expenses. The company's treasury decreased by $193.5 million to $125.2 million, mainly due to acquiring an additional 10% interest in Donlin Gold. This acquisition, costing $210.1 million, was offset partly by a $25.5 million gain from the exercise of an over-allotment option. NovaGold's share of Donlin Gold's $43 million 2025 budget increased to $24 million. The company aims to complete a bankable feasibility study by 2026, with a construction decision expected thereafter, targeting production by 2031. Operational highlights included the completion of an 18,000-plus meter drill program and advancements in permitting and litigation processes.Novagold Resources New Financial Statement Overview
Summary
NovaGold Resources faces significant financial challenges, with no revenue and persistent losses. The company's negative equity and reliance on debt highlight substantial financial instability.Income Statement
The company has no revenue, leading to negative profitability metrics across the board. Gross profit, EBIT, and net income are all negative, indicating a lack of operational efficiency and profitability. The lack of revenue and high operating losses are significant concerns.10
Very Negative
Balance Sheet
The balance sheet shows negative stockholders' equity, which is a major red flag. The debt-to-equity ratio is negative due to the negative equity, suggesting high financial leverage. The company's liabilities exceed its assets, which poses a risk of insolvency.20
Very Negative
Cash Flow
Negative free cash flow and operating cash flow indicate that the company is not generating cash from its operations, which is unsustainable in the long term. The company is relying on financing and investing activities to manage its cash needs.15
Very Negative
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | -7.00K | -7.00K | -7.00K |
| EBITDA | -24.91M | -21.77M | -45.83M | -33.82M | -28.16M |
| Net Income | -45.62M | -46.80M | -53.34M | -40.54M | -33.56M |
Balance Sheet | |||||
| Total Assets | 109.75M | 133.29M | 159.19M | 198.85M | 224.44M |
| Cash, Cash Equivalents and Short-Term Investments | 101.22M | 125.75M | 125.88M | 169.12M | 121.91M |
| Total Debt | 152.45M | 137.55M | 124.63M | 116.13M | 110.41M |
| Total Liabilities | 157.17M | 141.51M | 129.29M | 120.57M | 113.71M |
| Stockholders Equity | -47.42M | -8.22M | 29.90M | 78.28M | 110.73M |
Cash Flow | |||||
| Free Cash Flow | -12.64M | -7.79M | -12.37M | -9.66M | -10.02M |
| Operating Cash Flow | -12.64M | -7.79M | -12.37M | -9.86M | -10.02M |
| Investing Cash Flow | 9.36M | -10.33M | -12.36M | 40.39M | 4.72M |
| Financing Cash Flow | -174.00K | 0.00 | -2.12M | -731.00K | -1.65M |
Novagold Resources New Technical Analysis
Positive
13.44
Price Trends
9.41
Positive
7.68
Positive
6.20
Positive
Market Momentum
1.23
Negative
74.19
Negative
77.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NG, the sentiment is Positive. The current price of 13.44 is above the 20-day moving average (MA) of 11.08, above the 50-day MA of 9.41, and above the 200-day MA of 6.20, indicating a bullish trend. The MACD of 1.23 indicates Negative momentum. The RSI at 74.19 is Negative, neither overbought nor oversold. The STOCH value of 77.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NG.
Novagold Resources New Risk Analysis
Novagold Resources New disclosed 30 risk factors in its most recent earnings report. Novagold Resources New reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Novagold Resources New Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | C$3.33B | 13.74 | 39.89% | ― | 81.12% | 514.82% | |
69 Neutral | $3.22B | 31.40 | 4.38% | 1.73% | -4.17% | -40.92% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | $3.80B | ― | -32.74% | 2.99% | 39.55% | -89.48% | |
46 Neutral | $3.45B | ― | -4.84% | ― | ― | -630.10% | |
46 Neutral | C$2.90B | ― | -37.26% | ― | 36.21% | 33.44% | |
40 Underperform | $5.68B | ― | -129.07% | ― | ― | -92.71% |
* Basic Materials Sector Average
TSE:NG
Novagold Resources New
13.44
8.83
191.54%
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Novagold Resources New Corporate Events
M&A TransactionsShareholder MeetingsBusiness Operations and Strategy
NOVAGOLD Sets Date for 2025 Virtual Annual Shareholders Meeting
Positive
Apr 30, 2025
NOVAGOLD RESOURCES INC. announced that its 2025 Annual General Meeting of Shareholders will be held virtually on May 15, 2025. Shareholders will have the opportunity to vote on various matters, including the election of directors and executive compensation. The meeting will also feature a presentation by the company’s leadership on recent achievements, including a transaction to acquire Barrick Gold’s 50% interest in the Donlin Gold project, and the outlook for the rest of the year. The virtual format is intended to enhance accessibility and reduce the carbon footprint, reflecting the company’s commitment to sustainability.
Spark’s Take on TSE:NG Stock
According to Spark, TipRanks’ AI Analyst, TSE:NG is a Neutral.
NovaGold Resources faces significant financial hurdles, with no revenue and negative equity posing major risks. Despite this, the stock shows strong technical momentum, though it may be overbought. Positive guidance on the Donlin Gold project and a strong cash position support its potential. Nevertheless, ongoing litigation and project delays remain key concerns, impacting the stock’s attractiveness.
To see Spark’s full report on TSE:NG stock, click here.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.