NovaGold's stock fell 27% after the company met a key federal permit milestone on time. Despite holding permits and having a net cash balance sheet, the market is concerned about the $9.2 billion cost to build the Donlin gold project, pricing the stock as if gold prices were around $2,700 per ounce. The author views the current market valuation as overly pessimistic, suggesting a speculative buy with an $8.60 target price, but notes the risk of heavy equity financing. The article emphasizes careful valuation based on reserves, grade, and mine life rather than market sentiment.
NovaGold's recent stock drop is noted here with Pluang's market data for context. For readers following US stocks, here is Pluang's market snapshot as of Oct 09, 2026 18:11 WIB: out of 150 priced US stocks, 103 rose and 42 fell today. Notable movers include Alibaba Group (BABA) at USD 108.76 with a 1-day change of +2.89% and a typical hold time of 112 days, Freeport-McMoRan Inc (FCX) at USD 73.00 up 2.63%, and Xpeng Inc (XPEV) at USD 9.79 up 2.51%. Pluang order activity shows a strong buy interest in BABA at 83%.
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