Asia FX rises; US-Japan trade deal boosts yen, won to 2-week highs
Novagold Resources INC (NYSE:NG) Director Kyle Hume D. purchased 10,000 common shares of the company on June 30, 2025, at a price of $4.10 per share, for a total transaction value of $41,000. The purchase price represents a slight discount to the current trading price of $4.23, with the stock showing strong momentum, up 23% over the past six months according to InvestingPro data.
Following the transaction, Hume directly owns 22,348 shares of Novagold Resources INC. The $1.7 billion market cap company maintains a strong balance sheet with more cash than debt, while analysts have set price targets ranging from $7.00 to $10.05. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access the detailed Pro Research Report, one of 1,400+ available for top US stocks.
In other recent news, NovaGold Resources Inc. has seen significant developments concerning its Donlin Gold project in Alaska. The Alaska Superior Court upheld a critical water quality certification, affirming that the project complies with state water quality standards. This decision marks a positive step for NovaGold, as it navigates the legal landscape to advance the project. Additionally, NovaGold has entered a strategic partnership with Paulson Advisers LLC to acquire a 50% interest in the Donlin Gold project from Barrick Gold (NYSE:B) Corporation for $1 billion. This transaction will increase NovaGold’s stake to 60% and is expected to close between late Q2 and early Q3 of 2025.
In another development, RBC Capital upgraded NovaGold’s stock rating from Sector Perform to Outperform, raising the price target to $7.00 from $5.00. The upgrade reflects renewed interest in the Donlin project and potential valuation upside in a favorable gold price environment. NovaGold has secured funding commitments totaling $170 million to finance its share of the acquisition, with the remainder coming from its treasury. The new partnership plans to update the feasibility study and focus on expanding the project’s reserves and resources. These recent developments collectively underscore NovaGold’s ongoing efforts to advance the Donlin Gold project responsibly.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.