Novagold Resources' stock soared 5.01% during intraday trading on Thursday, following the release of its quarterly financial results.
The mining company reported a quarterly loss of $0.03 per share, which surpassed analyst expectations of a $0.04 per share loss by 25 percent. This performance represents a 25 percent improvement compared to losses of $0.04 per share from the same period last year.
In addition to the quarterly results, the company disclosed its full-year financials, reporting a net loss of $94.7 million for fiscal year 2025. The company noted it held cash and term deposits totaling $115.1 million at the period's end, with net annual cash expenditures of $36.5 million.
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