NovaGold Resources Inc. (TSE:NG – Get Free Report)’s share price passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of C$9.62 and traded as high as C$9.85. NovaGold Resources shares last traded at C$9.71, with a volume of 716,018 shares.
Analysts Set New Price Targets
A number of research analysts recently commented on NG shares. B. Riley Financial upgraded NovaGold Resources to a “strong-buy” rating in a research note on Monday, August 3rd. Citigroup started coverage on NovaGold Resources in a report on Friday, November 6th. They issued a “strong-buy” rating on the stock. Three analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Strong Buy” and an average price target of C$21.00.
Read Our Latest Research Report on NG
NovaGold Resources Trading Down 2.6%
The stock has a market cap of C$3.78 billion, a price-to-earnings ratio of -41.00 and a beta of 4.20. The company has a 50 day simple moving average of C$9.51 and a 200-day simple moving average of C$11.23.
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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