NovaGold Resources (TSE:NG – Get Free Report) posted its earnings results on Wednesday. The company reported C($0.06) earnings per share for the quarter, RTT News reports.
NovaGold Resources Stock Down 14.4%
Shares of NG stock traded down C$1.48 during trading on Wednesday, reaching C$8.80. The company’s stock had a trading volume of 1,139,767 shares, compared to its average volume of 657,970. NovaGold Resources has a one year low of C$4.97 and a one year high of C$19.69. The business has a fifty day moving average price of C$11.53 and a 200-day moving average price of C$13.02. The company has a market cap of C$3.86 billion, a price-to-earnings ratio of -33.85 and a beta of 3.41.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. Scotiabank raised shares of NovaGold Resources to a “strong-buy” rating in a research report on Wednesday, May 6th. Canaccord Genuity Group upgraded NovaGold Resources to a “moderate buy” rating in a report on Thursday, March 26th. Three research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy” and an average price target of C$18.00.
NovaGold Resources Company Profile
NOVAGOLD is a well-financed precious metals company focused on the development of the Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. With approximately 40 million ounces of gold in the Measured and Indicated Mineral Resource categories (560 million tonnes at an average grade of approximately 2.22 grams per tonne, in the Measured and Indicated Mineral Resource categories on a 100% basis)5, inclusive of Proven and Probable Mineral Reserves, the Donlin Gold project is regarded to be one of the largest, highest-grade, and most prospective known open-pit gold deposits in the world.
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