NovaGold Resources (TSE:NG) Hits New 52-Week High - Here's What Happened

NovaGold Resources Inc. (TSE:NG - Get Free Report)'s stock price hit a new 52-week high during 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 changing hands. The stock had previously closed at C$6.80.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NG. Royal Bank Of Canada raised shares of NovaGold Resources from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, June 4th. National Bank Financial raised shares of NovaGold Resources to a "hold" rating in a research report on Friday, March 21st. Finally, Citigroup upgraded shares of NovaGold Resources to a "strong-buy" rating in a report on Tuesday.

NovaGold Resources Stock Down 1.7%

The stock has a market cap of C$1.76 billion, a price-to-earnings ratio of -38.47 and a beta of 1.07. The business's 50 day simple moving average is C$5.68 and its 200 day simple moving average is C$5.02.

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.