NovaGold Resources Inc. (TSE:NG) Receives Consensus Rating of “Strong Buy” from Analysts

NovaGold Resources Inc. (TSE:NG) has been given an average recommendation of “Strong Buy” by the five ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$18.00.

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

Insider Buying and Selling

In related news, Director Dawn Patricia Whittaker bought 4,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was bought at an average cost of C$12.79 per share, for a total transaction of C$51,160.00. Following the completion of the purchase, the director directly owned 4,000 shares in the company, valued at approximately C$51,160. The trade was a ∞ increase in their position. 26.46% of the stock is currently owned by insiders.

NovaGold Resources Stock Down 13.3%

Shares of NovaGold Resources stock opened at C$12.74 on Wednesday. The firm has a market cap of C$5.59 billion, a P/E ratio of -49.00 and a beta of 3.16. NovaGold Resources has a fifty-two week low of C$4.58 and a fifty-two week high of C$19.69. The business has a 50-day moving average price of C$14.10 and a 200 day moving average price of C$13.47.

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

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.