NovaGold Resources Inc. (TSE:NG – Get Free Report) dropped 10.5% during mid-day trading on Wednesday . The company traded as low as C$8.99 and last traded at C$9.20. 569,243 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 652,997 shares. The stock had previously closed at C$10.28.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Scotiabank raised NovaGold Resources to a “strong-buy” rating in a 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 issued a Buy rating to the company. Based on data from MarketBeat.com, NovaGold Resources currently has an average rating of “Strong Buy” and an average price target of C$18.00.
Check Out Our Latest Research Report on NovaGold Resources
NovaGold Resources Stock Performance
NovaGold Resources (TSE:NG – Get Free Report) last announced its earnings results on Wednesday, April 1st. The company reported C($0.05) earnings per share (EPS) for the quarter.
About NovaGold Resources
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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