Canada's NovaGold Q1 net loss widens as Donlin Gold spending rises

NovaGold Resources

01/04/2026 13:10

Overview

Canada gold developer's fiscal Q1 net loss widens as Donlin Gold BFS activities ramp up

Company raised $294 mln in private placement, ending Q1 with $393 mln in cash and term deposits

Fluor named lead engineering firm for Donlin Gold BFS; key infrastructure contracts awarded

Outlook

NovaGold maintains 2026 operating expenditure guidance at $98.5 mln, unchanged from prior forecast

Company expects pro-rata share of Donlin Gold expenditures to increase over next 18 to 24 months

NovaGold targets completion of Donlin Gold Bankable Feasibility Study in 2027

Result Drivers

HIGHER PROJECT SPENDING - Increased expenditures at Donlin Gold due to commencement of Bankable Feasibility Study and hiring for key roles

INCREASED ADMIN COSTS - Higher general and administrative expenses contributed to the wider net loss

Company press release: ID:nGNX98DCDF

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$0.04


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the gold peer group is "buy"

Wall Street's median 12-month price target for NovaGold Resources Inc is $13.00, about 44.8% above its March 31 closing price of $8.98

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)