Novagold Resources (NG) shares plummeted 5.40% intraday as trading commenced, following the release of its fiscal fourth quarter and full-year 2025 financial results.

The gold exploration company reported a net loss of USD 15.6 million for the fourth quarter, representing a 36 percent increase from the prior year. The company attributed the wider loss to higher expenses related to its Donlin Gold project and increased professional fees.

For the full fiscal year 2025, Novagold reported a net loss of USD 94.7 million, or USD 0.25 per share. This result marks a significant widening from the loss of USD 0.14 per share reported for the previous fiscal year, confirming analyst expectations of a USD 0.25 per share loss. The annual loss included a significant non-cash, non-recurring charge related to warrants issued under a backstop commitment agreement.