Novagold director Schutt buys $20,000 in company stock

Published 29/07/2025, 15:48
Novagold director Schutt buys $20,000 in company stock

Director Ethan Schutt of NOVAGOLD RESOURCES INC (NYSE:NG), a $2.2 billion market cap mining company, acquired 3,824 common shares on July 28, 2025. The shares were purchased at $5.23, totaling approximately $19,999. The purchase comes as the stock has seen a 14% decline over the past week, despite posting strong gains of nearly 70% over the last six months. According to InvestingPro analysis, the stock is currently trading above its Fair Value, with analysts maintaining a bullish outlook with an average price target suggesting further upside potential.

Following the transaction, Schutt directly owns 51,735 shares of NOVAGOLD RESOURCES INC. Want deeper insights? InvestingPro offers exclusive access to 12 additional ProTips and a comprehensive research report for NG, helping you make more informed investment decisions.

In other recent news, NovaGold Resources has been the focus of several key developments. RBC Capital recently upgraded NovaGold’s stock rating from Sector Perform to Outperform, raising the price target from $5.00 to $7.00. This upgrade is attributed to renewed interest in the Donlin project, which had previously faced challenges under a joint venture with Barrick. Citi also initiated coverage on NovaGold with a Buy rating and a similar price target of $7.00, highlighting the company’s leverage to gold prices but noting significant execution risks. Additionally, a critical legal victory for NovaGold came as the Alaska Superior Court upheld a water quality certification essential for the Donlin Gold project. This decision supports the company’s compliance with state water quality standards, a matter previously contested by Earthjustice on behalf of the Orutsararmiut Native Council. These recent developments indicate a positive trajectory for NovaGold Resources amid a potentially favorable gold price environment.

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