NovaGold Resources Inc. (TSE:NG) Given Average Rating of “Strong Buy” by Brokerages

Shares of NovaGold Resources Inc. (TSE:NG) have received a consensus recommendation of “Strong Buy” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$18.00.

NG has been the subject of several analyst reports. Canaccord Genuity Group upgraded NovaGold Resources to a “moderate buy” rating in a research report on Thursday, March 26th. Scotiabank set a C$21.00 price objective on NovaGold Resources and gave the stock an “outperform” rating in a research report on Friday, February 6th.

NovaGold Resources Trading Down 13.3%

Shares of TSE NG opened at C$12.74 on Wednesday. The stock has a 50 day simple moving average of C$14.10 and a 200-day simple moving average of C$13.47. The company has a market cap of C$5.59 billion, a PE ratio of -49.00 and a beta of 3.16. NovaGold Resources has a 12-month low of C$4.58 and a 12-month high of C$19.69.

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

Insider Activity

In other NovaGold Resources news, Director Dawn Patricia Whittaker acquired 4,000 shares of NovaGold Resources stock in a transaction dated Wednesday, February 4th. The stock was acquired at an average cost of C$12.79 per share, for a total transaction of C$51,160.00. Following the completion of the transaction, the director owned 4,000 shares in the company, valued at approximately C$51,160. This represents a ∞ increase in their position. Corporate insiders own 26.46% of the company’s stock.

About NovaGold Resources

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.