Canaccord Genuity Group Upgrades NovaGold Resources

Analysts raise rating on mining company's stock to 'moderate buy'

Mar. 28, 2026 at 10:51am

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An extreme close-up of interlocking metal gears and machinery, conveying the industrial scale and power of a large-scale mining operation.Canaccord Genuity's upgrade of NovaGold's stock reflects the mining company's progress in developing its massive Donlin Gold project in Alaska.Crooked Creek Today

Canaccord Genuity Group, a financial services firm, has upgraded its rating on shares of NovaGold Resources (TSE:NG), a mineral exploration company, to 'moderate buy' in a new research report. The upgrade comes as NovaGold continues to advance its Donlin Gold project, a major gold development asset located in Alaska.

Why it matters

The upgrade from Canaccord Genuity is a positive signal for NovaGold, as it suggests the analysts see potential upside in the company's stock price. NovaGold's Donlin Gold project is a key asset, and the company's progress in developing this large-scale gold project is closely watched by investors in the mining sector.

The details

In the research report, Canaccord Genuity analysts cited NovaGold's ongoing work at the Donlin Gold project as a driver for the upgrade. The Donlin Gold project, which is 50% owned by NovaGold, is located in southwestern Alaska and is one of the largest known undeveloped gold deposits in the world. NovaGold has been steadily advancing the project through the permitting and development process.

  • NovaGold Resources released its latest quarterly earnings on January 22, 2026.
  • Canaccord Genuity Group issued the research report and upgrade on March 28, 2026.

The players

NovaGold Resources

A mineral exploration company focused on advancing its Donlin Gold project, a large undeveloped gold deposit located in Alaska.

Canaccord Genuity Group

A global financial services firm that provides investment banking, wealth management, and market research services.

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What’s next

Investors will be closely watching for further updates from NovaGold on the Donlin Gold project, including any new milestones reached in the permitting and development process. The company's next quarterly earnings report will also be an important event for assessing its financial position and progress.

The takeaway

The upgrade from Canaccord Genuity Group is a vote of confidence in NovaGold's ability to advance its flagship Donlin Gold project, which represents a significant long-term growth opportunity for the company. As NovaGold continues to navigate the project's development, the market will be looking for signs of continued momentum and value creation.