Canaccord Starts NovaGold Resources (NG) at Buy

Canaccord analyst Carey MacRury initiates coverage on NovaGold Resources (NYSE: NG) with a Buy rating and a price target of $13.00.

The analyst comments: "NOVAGOLD's flagship asset is a 60% interest in the Donlin Gold project, a large-scale gold project located in southwestern Alaska. Paulson Advisers LLC ("Paulson") owns the remaining 40%. This ownership structure resulted after NOVAGOLD and Paulson jointly acquired Barrick Mining’s 50% interest in the project in 2025, with NOVAGOLD increasing its interest to 60% from 50% and Paulson acquiring the remaining 40%. While the ownership is split 60/40, the project is governed on a 50/50 basis. The project is permitted, and the new partnership has initiated a bankable feasibility study (BFS) that is expected to be completed in 2027 to support project financing discussions and a construction decision. Initial production is expected in 2031/2032."

For an analyst ratings summary and ratings history on NovaGold Resources click here. For more ratings news on NovaGold Resources click here.

Shares of NovaGold Resources closed at $7.73 yesterday.

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