NovaGold Resources (TSE:NG) Reaches New 12-Month High - Should You Buy?

Key Points

• NovaGold Resources shares reached a new 52-week high of C$8.40, reflecting a trading price of C$8.28 at the close with a volume of 44,499 shares.
• Analysts have positively revised their ratings, with Citigroup upgrading NovaGold to a "strong-buy" and RBC increasing their rating from "hold" to "moderate buy".
• Director Ethan Schutt purchased 3,824 shares at an average cost of C$7.17, indicating insider confidence in the company's prospects.

NovaGold Resources Inc. (TSE:NG - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as C$8.40 and last traded at C$8.28, with a volume of 44499 shares changing hands. The stock had previously closed at C$8.31.

Analyst Ratings Changes

A number of equities research analysts have commented on NG shares. Citigroup raised shares of NovaGold Resources to a "strong-buy" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada raised NovaGold Resources from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, June 4th.

NovaGold Resources Stock Up 0.4%

The firm has a market cap of C$1.99 billion, a price-to-earnings ratio of -43.54 and a beta of 1.07. The business has a 50 day moving average of C$6.76 and a 200 day moving average of C$5.47.

Insider Transactions at NovaGold Resources

In other news, Director Ethan Schutt purchased 3,824 shares of the company's stock in a transaction on Monday, July 28th. The stock was bought at an average cost of C$7.17 per share, for a total transaction of C$27,399.34. Insiders own 26.46% of the company's stock.

NovaGold Resources Company Profile

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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