NovaGold Resources (TSE:NG) Posts Quarterly Earnings Results

by · The Markets Daily

NovaGold Resources (TSE:NG – Get Free Report) released its quarterly earnings data on Wednesday. The company reported C($0.06) earnings per share for the quarter, RTT News reports.

NovaGold Resources Stock Down 14.4%

Shares of NG stock traded down C$1.48 during mid-day trading on Wednesday, reaching C$8.80. 1,139,767 shares of the stock traded hands, compared to its average volume of 657,970. NovaGold Resources has a 1-year low of C$4.97 and a 1-year high of C$19.69. The company has a market cap of C$3.86 billion, a price-to-earnings ratio of -33.85 and a beta of 3.41. The stock’s fifty day simple moving average is C$11.53 and its two-hundred day simple moving average is C$13.02.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NG shares. Scotiabank upgraded NovaGold Resources to a “strong-buy” rating in a research note on Wednesday, May 6th. Canaccord Genuity Group upgraded shares of NovaGold Resources to a “moderate buy” rating in a research report on Thursday, March 26th. Three analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, NovaGold Resources presently has an average rating of “Strong Buy” and a consensus target price of C$18.00.

Check Out Our Latest Analysis on NovaGold Resources

NovaGold Resources Company Profile

(Get Free Report)

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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