NOVAGOLD and Paulson Complete $1 Billion Acquisition of Donlin Gold Stake

The latest announcement is out from Novagold Resources New ( (TSE:NG) ).

NOVAGOLD Resources Inc. and Paulson Advisers LLC have completed a $1 billion acquisition of Barrick Mining’s 50% interest in the Donlin Gold project, with NOVAGOLD increasing its ownership to 60% and Paulson acquiring a 40% stake. This strategic acquisition is set to advance the Donlin Gold project, with plans to update the Feasibility Study, execute a drill program, and maintain permits, positioning the project as a leading gold development initiative in a secure jurisdiction.

The most recent analyst rating on (TSE:NG) stock is a Hold with a C$7.00 price target. To see the full list of analyst forecasts on Novagold Resources New stock, see the TSE:NG Stock Forecast page.

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, which is known for being one of the largest, highest-grade, and most prospective open-pit gold deposits globally.

Average Trading Volume: 476,618

Technical Sentiment Signal: Buy

Current Market Cap: C$1.97B

Find detailed analytics on NG stock on TipRanks’ Stock Analysis page.