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

Key Points

• Analysts give NovaGold a consensus "Strong Buy" rating (five analysts: two buys, three strong buys) with an average 12‑month price target of C$18.00.
• A director purchased 4,000 shares at C$12.79 and insiders collectively own about 26.46% of the stock, signaling significant insider ownership.
• Despite the bullish ratings, shares are down 13.3%, trading around C$12.74 with a market cap of C$5.59B, negative quarterly EPS (C$0.05) and a high beta (3.16).

NovaGold Resources Inc. (TSE:NG - Get Free Report) 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 - Get Free Report) 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.

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