NovaGold initiated with a Speculative Buy at Canaccord

Canaccord initiated coverage of NovaGold (NG) with a Speculative Buy rating and $13 price target The company’s flagship asset is a 60% interest in the Donlin Gold project, a large-scale gold project located in southwestern Alaska, the analyst tells investors in a research note. The firm believes Donlin is “uniquely positioned” in the global gold sector due to its size, grade, jurisdiction, and local support.