Novagold Resources Inc. (NG)

FairStock Score: 15/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

On 2026-10-13, NovaGold closed at $6.63, giving it a $2.9 billion market value while it reported no revenue and kept losing money. FairStock's calculations show a negative P/E of -41.44, P/B of 6.91, ROE of -24.63%, ROCE of -4.36%, and a -0.6% FCF yield. The filed figures are stark: FY2025 net loss of $94.7 million, FY2024 net loss of $45.6 million, and FY2023 net loss of $46.8 million. More recently, in fiscal Q3 2026, the quarter ended 2026-08-31, the net loss was $36.0 million, worse than the $15.6 million loss in fiscal Q3 2025. Revenue is n/a in the filed periods. The business owns 60% of the Donlin Gold project, with 493 claims, but that is a development asset, not a producing mine. There is no earnings-based moat visible in the numbers. FairStock's Piotroski F-Score is 1/9, though FairStock's Altman Z-Score of 5.33 suggests near-term balance-sheet distress is not extreme. Debt-to-equity is 0.41, and beta is 2.26. FairStock assigns no Lynch category because losses occurred in each of the last four years. I prefer a business that produces cash today at a fair price. Here, an investor is paying almost seven times book for an unprofitable developer. The value rests on future gold production, permits, and financing. That may be a speculation on gold, but on these figures it is not a Graham-style bargain.

In plain English: NovaGold is a gold development company with a 60% interest in the Donlin Gold project, but it has no revenue and is not producing gold yet. It has lost money for years and burns cash, so the business looks weak on today's numbers. At $6.63 a share on 2026-10-13, the price looks expensive against its accounting value and current losses.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-08-31) · fiscal Q2 2026 10-Q (period ended 2026-05-31) · fiscal Q1 2026 10-Q (period ended 2026-02-28) · fiscal Q3 2025 10-Q (period ended 2025-08-31) · FY2025 10-K (period ended 2025-11-30) · FY2024 10-K (period ended 2024-11-30) · FY2023 10-K (period ended 2023-11-30)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer