Is NAMM or NG more undervalued in 2026?

CirclFi compares Namib Minerals (NAMM) and Novagold Resources Inc. (NG) using 13 institutional-grade valuation models. NAMM has a Quality of Company score of 6.1/10 while NG scores 4.6/10.

Which is a better buy — NAMM or NG?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do NAMM and NG valuations compare?

NAMM at $1.45 and NG at $8.32 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

NAMM vs NG Valuation Comparison 2026 — Intrinsic Value Analysis

NAMM

Gold

Namib Minerals

Quality

6.1

out of 10

Value Trap

—

Price

$1.45

Last close

Models

8/13

Active

NG

Gold

Novagold Resources Inc.

Quality

4.6

out of 10

Value Trap

SAFE

Price

$8.32

Last close

Models

10/13

Active

Model-by-Model Comparison

Model	Type	NAMM Fair Value	NAMM Upside	NG Fair Value	NG Upside
Bayesian DCF	Intrinsic	$0.22	-85.0%	$2.22	-73.3%
Earnings Power Value	Intrinsic	—	—	$3.40	-60.6%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$1.45	-0.2%	$1.50	-82.6%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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NAMM vs NG — Which Stock Is More Undervalued?

NAMM scores higher with a 6.1/10 quality rating vs NG's 4.6/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Namib Minerals (NAMM) and Novagold Resources Inc. (NG) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

NAMM currently trades at $1.45 with a QOC of 6.1/10, while NG trades at $8.32 with a QOC of 4.6/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).