NovaGold Resources (TSE:NG) Hits New 12-Month High - Still a Buy?

Shares of NovaGold Resources Inc. (TSE:NG - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$7.21 and last traded at C$7.17, with a volume of 422082 shares trading hands. The stock had previously closed at C$6.80.

Wall Street Analyst Weigh In

NG has been the topic of several research analyst reports. National Bank Financial raised NovaGold Resources to a "hold" rating in a report on Friday, March 21st. Royal Bank Of Canada raised NovaGold Resources from a "hold" rating to a "moderate buy" rating in a report on Wednesday, June 4th. Finally, Citigroup raised NovaGold Resources to a "strong-buy" rating in a report on Tuesday.

NovaGold Resources Price Performance

The company has a market cap of C$1.76 billion, a PE ratio of -38.47 and a beta of 1.07. The company has a 50-day moving average of C$5.73 and a 200 day moving average of C$5.04.

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.