NovaGold Resources (TSE:NG) Reaches New 52-Week High - What's Next?

Key Points

• NovaGold Resources stock reached a new 52-week high of C$9.60 during mid-day trading and last traded at C$9.25, with a share volume of 353,075.
• Several analysts, including those from the Royal Bank of Canada and Citigroup, have upgraded the stock’s rating, reflecting a consensus rating of "Buy".
• The company has a market capitalization of C$3.76 billion, a negative P/E ratio, and insider ownership of 26.46% following recent stock acquisitions by its Director.

NovaGold Resources Inc. (TSE:NG - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The company traded as high as C$9.60 and last traded at C$9.25, with a volume of 353075 shares traded. The stock had previously closed at C$9.39.

Wall Street Analyst Weigh In

NG has been the subject of a number of analyst reports. Royal Bank Of Canada raised NovaGold Resources from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, June 4th. Citigroup raised NovaGold Resources to a "strong-buy" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy".

NovaGold Resources Stock Performance

The company has a market cap of C$3.81 billion, a P/E ratio of -36.04 and a beta of 1.28. The firm has a 50 day moving average price of C$7.70 and a two-hundred day moving average price of C$5.91.

Insider Activity

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

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.