NovaGold Resources Reports Q3 GAAP EPS Loss and Raises FY2026 Outlook
NovaGold Resources (NG) reported a third-quarter GAAP earnings per share loss of $0.08, missing estimates by $0.04. Despite the negative result, the company raised its full-year 2026 outlook based on strong cash reserves and operational progress at key projects. As of August 31, NovaGold held approximately $343.4 million in cash and term deposits. The firm reported net third-quarter operational cash expenditures totaling $28.1 million, with $24.8 million allocated to fund its share of the Donlin project development costs. These figures highlight continued investment activity despite short-term financial challenges. The updated outlook reflects confidence in future production potential at NovaGold’s key assets and underscores management's commitment to long-term value creation.
Tickers: $NG