NovaGold Resources (TSE:NG) Stock Price Down 2.3% – Should You Sell?

by · The Cerbat Gem

NovaGold Resources Inc. (TSE:NG – Get Free Report)’s stock price fell 2.3% on Thursday . The company traded as low as C$13.98 and last traded at C$14.04. 379,714 shares were traded during trading, a decline of 10% from the average session volume of 422,032 shares. The stock had previously closed at C$14.37.

Analysts Set New Price Targets

NG has been the subject of several recent analyst reports. BMO Capital Markets upgraded shares of NovaGold Resources to a “strong-buy” rating in a research note on Tuesday, November 4th. National Bankshares raised shares of NovaGold Resources from a “sector perform” rating to an “outperform” rating and set a C$15.00 target price for the company in a report on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$15.00.

Read Our Latest Report on NovaGold Resources

NovaGold Resources Trading Down 0.8%

The stock has a market cap of C$5.67 billion, a price-to-earnings ratio of -55.72 and a beta of 2.08. The company has a fifty day simple moving average of C$13.24 and a 200-day simple moving average of C$10.97.

NovaGold Resources (TSE:NG – Get Free Report) last issued its earnings results on Wednesday, October 1st. The company reported C($0.04) EPS for the quarter.

About NovaGold Resources

(Get Free Report)

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.

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