AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
_6ff029a61766633234293.png?format=webp&width=1186&height=250)
Novagold Resources Inc. Insider Ethan Schutt Boosts Stake with $20K Purchase
ByAinvest
Wednesday, Jul 30, 2025 8:21 pm ET1min read
Ethan Schutt, a Director at Novagold Resources Inc (NG), purchased 3,824 shares of the company on July 28, 2025, for $5.23 per share. This brings the total shares owned by Schutt to 51,735. The recent purchase is part of a trend of insider buying at Novagold Resources Inc, with three insider buys and no insider sells over the past year.
Ethan Schutt, a Director at Novagold Resources Inc (NG), recently purchased 3,824 shares of the company on July 28, 2025, at an average price of $5.23 per share. This acquisition brings Schutt's total shareholding to 51,735 shares, representing a 7.98% increase in his ownership [2].This latest insider buy is part of a broader trend at Novagold Resources Inc, where insider buying has outpaced insider selling over the past year. The company has seen three insider purchases and no insider sales during this period, indicating a positive sentiment among insiders [2].
The purchase comes amidst a flurry of analyst upgrades and price target increases for Novagold Resources Inc. Citigroup recently initiated coverage on the stock, assigning it a "buy" rating with a $7.00 target price [2]. Royal Bank of Canada also raised its rating from "hold" to "moderate buy" and increased its target price to $7.00 [2]. These upgrades suggest that analysts are increasingly optimistic about the company's prospects.
Ethan Schutt's latest purchase is significant as it represents a substantial investment in the company's future. The insider buying trend, coupled with analyst upgrades, indicates a positive outlook for Novagold Resources Inc. However, investors should always conduct their own due diligence and consider their risk tolerance before making investment decisions.
References:
[1] https://www.marketbeat.com/instant-alerts/insider-buying-novagold-resources-inc-tseng-director-purchases-3824-shares-of-stock-2025-07-29/
[2] https://www.marketbeat.com/instant-alerts/novagold-resources-inc-nyseamericanng-director-ethan-schutt-buys-3824-shares-2025-07-29/
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments
No comments yet