Novagold Resources Inc. (NYSEAMERICAN:NG) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts have given Novagold a consensus recommendation of Moderate Buy (seven buys, one hold) with an average 12‑month price target of about $13.13.
• Recent research activity includes Scotiabank initiating coverage at "sector outperform," Canaccord starting at "speculative buy" with a $13 target, B. Riley raising its target to $13, and RBC trimming its target to $14 while keeping an "outperform" rating.
• Insider and ownership notes: Director Dawn Patricia Whittaker purchased 4,000 shares at $9.36, insiders own 2.88% of the stock, institutions own 57.56%, and NG trades near $9.06 with a market cap of ~$3.97B (12‑month range $2.26–$14.40).

Novagold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG has received a consensus recommendation of "Moderate Buy" from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $13.1250.

NG has been the subject of several recent research reports. Scotiabank initiated coverage on shares of Novagold Resources in a report on Friday, February 6th. They set a "sector outperform" rating for the company. B. Riley Financial boosted their price target on shares of Novagold Resources from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, January 27th. Canaccord Genuity Group started coverage on shares of Novagold Resources in a research note on Friday, March 27th. They set a "speculative buy" rating and a $13.00 price objective for the company. Royal Bank Of Canada decreased their price objective on Novagold Resources from $18.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, March 19th. Finally, Zacks Research raised Novagold Resources from a "strong sell" rating to a "hold" rating in a research report on Monday.

Insider Buying and Selling at Novagold Resources

In related news, Director Dawn Patricia Whittaker purchased 4,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were purchased at an average price of $9.36 per share, with a total value of $37,440.00. Following the transaction, the director directly owned 4,000 shares of the company's stock, valued at $37,440. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Novagold Resources

Several hedge funds and other institutional investors have recently made changes to their positions in NG. Torren Management LLC bought a new stake in Novagold Resources during the fourth quarter worth $27,000. Leonteq Securities AG bought a new position in shares of Novagold Resources in the 4th quarter valued at about $38,000. Hantz Financial Services Inc. acquired a new position in shares of Novagold Resources during the 3rd quarter worth about $40,000. Shepherd Financial Partners LLC acquired a new position in shares of Novagold Resources during the 2nd quarter worth about $41,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Novagold Resources in the 2nd quarter valued at about $44,000. 57.56% of the stock is owned by institutional investors.

Novagold Resources Price Performance

Shares of NG opened at $9.06 on Friday. The stock has a market capitalization of $3.97 billion, a P/E ratio of -34.85 and a beta of 0.90. Novagold Resources has a twelve month low of $2.26 and a twelve month high of $14.40. The company has a 50 day moving average of $10.32 and a 200-day moving average of $9.60. The company has a quick ratio of 23.79, a current ratio of 23.79 and a debt-to-equity ratio of 1.02.

About Novagold Resources

Novagold Resources Inc is a mineral exploration and development company headquartered in Vancouver, British Columbia. The firm is focused on advancing large-scale precious metals projects through disciplined project management, environmental stewardship and community engagement. Novagold maintains a lean corporate structure while leveraging partnerships and industry expertise to advance its projects toward production.

The company's flagship asset is the Donlin Gold project in Alaska, a 50/50 joint venture with Barrick Gold Corporation.

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