NovaGold price target raised to $13 from $11 at B. Riley

B. Riley raised the firm’s price target on NovaGold (NG) to $13 from $11 and keeps a Buy rating on the shares. Commodity markets strengthened broadly, with aluminum, steel, met coal, power prices, and select critical minerals rising on tight supply, strong demand, and weather-driven disruptions, while tungsten posted a sharp spike to record highs, the analyst tells investors in a research note. These dynamics supported higher estimates and price targets for select metals names, highlighted coal’s reliability during demand surges, and underscored growing government support for domestic critical minerals despite near-term equity volatility, the firm says.