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NovaGold: Maybe The Best Gold Leverage Of Mines Under Dev...
Paul Franke · 2026-06-26 · via All Articles on Seeking Alpha

Summary

  • NovaGold Resources was downgraded to Sell after a +200% rally between February and October 2025. The nearly -60% share price decline from March has convinced me to upgrade to Buy.
  • Through share issuance, NG now has enough cash to repay a promissory note to Barrick, while fully funding exploration drilling and a bankable feasibility study from Fluor into next summer.
  • Upside leverage to gold at $6 per NG share is far different than $10 or $14 for new investors.
  • I am buying the stock in limited quantities, with a plan to increase my portfolio sizing on further price weakness this summer.
Golden Chess Pawn on Black Background with Financial Chart Elements

sankai/iStock via Getty Images

I downgraded NovaGold Resources Inc. (NG) to Sell back in October here, when price was trading at $10 per share. Fortunately, I made a decent amount of money owning the company during 2025, with a correct

Analyst’s Disclosure: I/we have a beneficial long position in the shares of NG, NEM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

All opinions expressed herein are not investment recommendations and are not meant to be relied upon in investment decisions. The author is not acting in an investment advisor capacity and is not a registered investment advisor. The author recommends investors consult a qualified investment advisor before making any trade. Any projections, market outlooks, or estimates herein are forward-looking statements based upon certain assumptions that should not be construed as indicative of actual events that will occur. This article is not an investment research report but an opinion written at a point in time. The author's opinions expressed herein address only a small cross-section of data related to an investment in securities mentioned. Any analysis presented is based on incomplete information and is limited in scope and accuracy. The information and data in this article are obtained from sources believed to be reliable, but their accuracy and completeness are not guaranteed. The author expressly disclaims all liability for errors and omissions in the service and for the use or interpretation by others of information contained herein. Any and all opinions, estimates, and conclusions are based on the author's best judgment at the time of publication and are subject to change without notice. The author undertakes no obligation to correct, update, or revise the information in this document or to otherwise provide any additional materials. Past performance is no guarantee of future returns.

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