NovaGold Resources Inc. (NG) Coverage Launched as Morgan Stanley Highlights Donlin Gold Upside

We recently compiled a list of the 10 Best Mid Cap Stocks to Invest In According to Billionaires. NovaGold Resources Inc. (NYSEAMERICAN:NG) is one of the best mid cap stocks.

TheFly reported on April 8 that Morgan Stanley began coverage of NG, assigning an Overweight rating along with a price target of $13.80. The firm highlighted progress at the Donlin Gold project in Alaska, noting its high-grade profile and large scale as a key long-term growth driver. It also pointed to favorable market conditions for gold, supported by broader currency weakness, as a supportive backdrop for the asset’s development and valuation potential.

On April 1, NovaGold Resources Inc. (NYSEAMERICAN:NG) filed its first-quarter report for fiscal 2026 and provided an update on its Donlin Gold development project in Alaska. The company reported cash and term deposits of approximately $392.5 million as of February 28, 2026, alongside net operating cash expenditures of $20.8 million for the quarter, including funding for its share of project development and corporate expenses.

NovaGold Resources Inc. (NG) Coverage Launched as Morgan Stanley Highlights Donlin Gold Upside

Image by Csaba Nagy from Pixabay

It also recorded a quarterly loss of $15.4 million, or $0.04 per share, reflecting increased spending tied to early feasibility work and ongoing administrative costs. During the period, NG advanced key development activities at Donlin Gold, including engineering partnerships and infrastructure planning, while continuing permitting and regulatory progress. The business also emphasized sustained engagement with local communities and stakeholders as part of its broader long-term project development strategy.

NovaGold Resources Inc. (NYSEAMERICAN:NG) is a precious metals company focused on the exploration and development of gold projects in North America. Its flagship asset is the Donlin Gold project in Alaska, one of the largest undeveloped gold resources globally, developed in partnership with Barrick Gold.

While we acknowledge the risk and potential of NG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NG and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.