NovaGold Resources falls on planned stock offering

NovaGold Resources

07/05/2025 11:15

** U.S.-listed shares of precious metals company NovaGold Resources NG.A fall 5.2% to $3.99 premarket

** NG late Tuesday announced it intends to sell up to 43.5 million shares in a public offering

** Concurrently, NG intends to complete a private placement of shares to certain major shareholders at public offering price

** Proceeds will be used to fund its previously announced acquisition of additional 10% ownership in Donlin Gold and for other purposes

** Citigroup, RBC Capital Markets and BMO Capital Markets are the joint book-running managers for the public offering

** Vancouver, British Columbia-based NG is focused on the development of the Donlin Gold project located in Alaska

** One of two brokerages rate the stock "buy" and one "hold"; median PT is $10 - data compiled by LSEG

** As of last close, NG up 26.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))