Why NovaGold Resources Inc. (NG) Went Up On Tuesday

We recently published a list of Bitcoin Miners Dominate Tuesday’s 10 Best-Performing Stocks. In this article, we are going to take a look at where NovaGold Resources Inc. (NYSEAMERICAN:NG) stands against other Tuesday’s best-performing stocks.

The stock market bounced back on Tuesday, erasing losses in the previous day, as investors snapped up shares on news that the US-China trade tensions could possibly subside.

The Dow Jones rallied by 2.66 percent, the S&P 500 rose by 2.51 percent, and the Nasdaq surged by 2.71 percent.

On Tuesday, news reports said that US Treasury Secretary Scott Bessent believed there would be a de-escalation between the US and China, describing future negotiations as a slog that has not started yet. The news buoyed trading in several financial markets, including cryptocurrency, with Bitcoin jumping 5 percent to trade above the $91,000 level.

The rally spilled over into 10 companies, predominantly Bitcoin miners. In this article, we have listed the 10 top-performing firms on Tuesday and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with more than $1 billion in market capitalization and $5 million in trading volume.

An aerial view of a gold mining claim in the Kuskokwim region of southwestern Alaska.

NovaGold Resources Inc. (NYSEAMERICAN:NG)

NovaGold Resources extended its winning streak for a second straight day on Tuesday, jumping 39.87 percent to close at $4.35 apiece following news that it would acquire a 50-percent stake in Donlin Gold LLC for $1 billion.

NG said in a statement that it partnered with Paulson Advisers LLC for the acquisition of Barrick’s 50-percent stake in Donlin, which owns and develops the Donlin Gold project in Alaska.

Of the total, NG will acquire the 10-percent share, increasing its total ownership in the company to 60 percent from 50 percent previously.

Paulson, on the other hand, will take the remaining 40 percent interest at a price of $800 million.

Following the closing of the transaction, the two companies target to immediately commence the various workstreams to update the Feasibility Study, including assembling a specially dedicated team to take over efforts as well as shift the program’s focus to the conversion and expansion of Donlin Gold’s reserves and resources.

Overall, NG ranks 1st on our list of Tuesday’s best-performing stocks. While we acknowledge the potential of NG as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than NG but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.