BMO Capital initiated coverage of NovaGold (NG) with an Outperform rating and C$24 price target The company is advancing the Donlin Gold project in Alaska, which is one of the largest undeveloped gold assets in the world, the analyst tells investors in a research note. The firm says Donlin is in a “safe, tier-1 jurisdiction, which should enhance investor appeal.” BMO expects a “significant re-rating” of the shares as the bankable feasibility study and financing progresses.
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