Novagold Resources (NYSEAMERICAN:NG) Releases Earnings Results, Misses Expectations By $0.01 EPS

Novagold Resources (NYSEAMERICAN:NG) (TSE:NG) posted its quarterly earnings results on Thursday. The mining company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01), reports.

Here are the key takeaways from Novagold Resources’ conference call:

• Proposed Donlin Gold consolidation would create a U.S.-domiciled, NYSE-listed parent that owns 100% of the project, adding approximately 13 million ounces of proven and probable reserves and more than 520,000 ounces of attributable annual production in the first decade. Shareholder approval is scheduled for November 3, 2026, with closing expected by year-end.
• Donlin’s bankable feasibility study remains on track for completion in 2027, with Fluor, WSP, Worley and Hatch advancing engineering, geotechnical work, resource modeling and mine planning. The project is projected to produce about 1.3 million ounces annually during its first 10 years and more than 1 million ounces annually over its 27-year mine life.
• NovaGold ended the quarter with $343.4 million in cash and term deposits, which management said is sufficient to fund the feasibility study, corporate costs for at least 12 months and the planned Barrick promissory-note prepayment. However, third-quarter net loss rose to $36 million as Donlin expenditures and transaction-related legal and professional fees increased, prompting an $11.5 million increase in 2026 corporate G&A guidance to $31.2 million.
• Permitting and stakeholder engagement continue, with the supplemental environmental impact statement released and a final EIS anticipated in April 2027; dam-safety certificates are expected in 2028. The company has appointed Endeavour Financial and Macquarie Capital to evaluate funding options, including project finance and potential sovereign wealth fund participation.

Novagold Resources Stock Down 1.3%

NG opened at $6.28 on Friday. The company has a 50 day moving average of $7.55 and a 200 day moving average of $7.67. The company has a market cap of $2.76 billion, a PE ratio of -36.94 and a beta of 0.95. Novagold Resources has a 12 month low of $5.07 and a 12 month high of $14.40. The company has a current ratio of 112.82, a quick ratio of 112.82 and a debt-to-equity ratio of 0.41.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NG. Morgan Stanley reduced their price objective on Novagold Resources from $13.60 to $13.00 and set an “overweight” rating for the company in a report on Wednesday. B. Riley Financial assumed coverage on Novagold Resources in a research note on Monday, August 3rd. They issued a “buy” rating and a $9.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $12.30.

Novagold Resources Company Profile

Novagold Resources Inc is a Canada-based precious metals exploration and development company focused on advancing the Donlin Gold project in southwest Alaska. The project is held through Donlin Gold LLC, which is owned equally by Novagold and Barrick Gold Corporation. Donlin Gold is one of the largest undeveloped gold deposits in the world and is located on lands owned by the Calista Corporation and The Kuskokwim Corporation.

Novagold does not currently operate producing mines. Its primary activities include project evaluation, permitting, technical studies, exploration, and community and stakeholder engagement related to Donlin Gold.