NovaGold Resources Earns Strong Buy Rating from Analysts

Analysts see significant upside potential in the gold mining company's stock.

Mar. 28, 2026 at 12:42pm

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An extreme close-up photograph of large, heavy mining equipment and machinery in a rugged, industrial setting, conveying the scale and power of the Donlin Gold project.A powerful visual metaphor for the industrial might behind NovaGold's Donlin Gold project, one of the largest undeveloped gold deposits in the world.Crooked Creek Today

Shares of NovaGold Resources Inc. (TSE:NG) have received an average rating of "Strong Buy" from the five research firms currently covering the company, according to Marketbeat. Two analysts have rated the stock as a "Buy" while three have given it a "Strong Buy" recommendation. The average 12-month price target among the analysts is C$18.00.

Why it matters

The strong analyst sentiment reflects confidence in NovaGold's flagship Donlin Gold project, which is one of the largest undeveloped gold deposits in the world. A "Strong Buy" rating from multiple firms suggests Wall Street sees significant upside potential in the stock as the company advances the Donlin project towards development.

The details

The analyst ratings come as NovaGold continues to make progress on the Donlin Gold project, which it owns a 50% stake in. The project is located in southwestern Alaska and is one of the largest known gold deposits globally. Canaccord Genuity Group recently upgraded its rating on NovaGold to "Moderate Buy", while Scotiabank set a C$21.00 price target and an "Outperform" rating on the stock.

  • On February 4th, 2026, Director Dawn Patricia Whittaker purchased 4,000 shares of NovaGold stock.
  • NovaGold reported its latest quarterly earnings on January 22nd, 2026.

The players

NovaGold Resources Inc.

A mineral exploration company focused on the development of the Donlin Gold project, one of the largest known undeveloped gold deposits in the world.

Dawn Patricia Whittaker

A director at NovaGold Resources who recently purchased 4,000 shares of the company's stock.

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What’s next

Investors will be closely watching for any further updates on the Donlin Gold project's development timeline and permitting progress, which could drive additional analyst rating changes and price target adjustments.

The takeaway

The strong analyst consensus on NovaGold Resources reflects Wall Street's confidence in the company's flagship Donlin Gold project and its potential to unlock significant value for shareholders as the asset advances towards development.