Novagold Resources (NYSEAMERICAN:NG) Trading Down 6.5% – Here’s Why

Posted by Brenda Bartman on Sep 23rd, 2026

Novagold Resources Inc. (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) fell 6.5% during mid-day trading on Wednesday . The stock traded as low as $7.19 and last traded at $7.2680. Approximately 732,750 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 4,329,913 shares. The stock had previously closed at $7.77.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. B. Riley Financial assumed coverage on shares of Novagold Resources in a research report on Monday, August 3rd. They set a “buy” rating and a $9.00 price target for the company. Morgan Stanley dropped their price objective on Novagold Resources from $13.80 to $13.60 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $12.42.

Get Our Latest Research Report on NG

Novagold Resources Stock Down 7.7%

The company has a debt-to-equity ratio of 0.41, a current ratio of 112.82 and a quick ratio of 112.82. The company has a fifty day moving average price of $7.32 and a 200 day moving average price of $7.99. The company has a market cap of $3.15 billion, a PE ratio of -42.08 and a beta of 0.92.

Novagold Resources (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) last announced its earnings results on Wednesday, July 22nd. The mining company reported ($0.06) earnings per share for the quarter. As a group, analysts anticipate that Novagold Resources Inc. will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Electrum Group LLC purchased a new stake in Novagold Resources during the 4th quarter valued at about $865,854,000. Principal Financial Group Inc. increased its stake in Novagold Resources by 32,405.9% in the 1st quarter. Principal Financial Group Inc. now owns 5,722,006 shares of the mining company’s stock worth $51,380,000 after purchasing an additional 5,704,403 shares during the period. Greenwich Wealth Management LLC bought a new stake in Novagold Resources in the fourth quarter valued at approximately $18,640,000. Renaissance Technologies LLC bought a new stake in Novagold Resources in the first quarter valued at approximately $7,972,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Novagold Resources during the second quarter valued at approximately $5,197,000. 57.56% of the stock is currently owned by hedge funds and other institutional investors.

About Novagold Resources

(Get Free Report)

NovaGold Resources Inc is a Canadian-based mineral exploration and development company focused on advancing the Donlin Gold project in southwestern Alaska. The company does not currently operate producing mines; its principal asset is its 50% interest in Donlin Gold LLC, which owns the Donlin Gold project. Barrick Gold Corporation owns the remaining 50% interest and is the project operator.

Donlin Gold is one of the largest undeveloped gold deposits in the world. The project is located in the Yukon-Kuskokwim region of Alaska, approximately 145 miles northeast of the port of Bethel.