Morgan Stanley initiated coverage of NovaGold (NG) with an Overweight rating and $13.80 price target The company’s accelerated development of the Donlin Mine, a high-grade gold deposit in Alaska, is well timed as gold gains amid USD debasement, the analyst tells investors in a research note. Donlin is one of the world’s largest undeveloped gold asset, and possibly among the largest gold mines ever in North America, the firm added.
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