NovaGold Resources (TSE:NG) Hits New 52-Week High – Here’s What Happened

by · The Markets Daily

NovaGold Resources Inc. (TSE:NG – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$15.57 and last traded at C$14.67, with a volume of 881207 shares changing hands. The stock had previously closed at C$13.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. National Bankshares raised shares of NovaGold Resources from a “sector perform” rating to an “outperform” rating and set a C$15.00 price objective on the stock in a report on Thursday, October 30th. BMO Capital Markets upgraded shares of NovaGold Resources to a “strong-buy” rating in a research report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$15.00.

Read Our Latest Report on NovaGold Resources

NovaGold Resources Trading Up 4.9%

The stock has a market capitalization of C$5.88 billion, a P/E ratio of -57.84 and a beta of 2.08. The company has a fifty day simple moving average of C$13.38 and a two-hundred day simple moving average of C$11.14.

NovaGold Resources (TSE:NG – Get Free Report) last issued its earnings results on Thursday, January 22nd. The company reported C($0.05) earnings per share (EPS) for the quarter.

About NovaGold Resources

(Get Free Report)

Novagold Resources Inc is a mineral exploration company engaged in the exploration and development of mineral properties. The company owns 50% of the Donlin Gold project, which is located in southwestern Alaska, approximately 20 kilometers north of the village of Crooked Creek on the Kuskokwim River.

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