NovaGold Resources Inc. (TSE:NG - Get Free Report)'s stock price shot up 24% during trading on Thursday . The company traded as high as C$6.53 and last traded at C$6.41. 1,907,457 shares changed hands during trading, an increase of 384% from the average session volume of 394,140 shares. The stock had previously closed at C$5.17.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on NG. National Bank Financial upgraded shares of NovaGold Resources to a "hold" rating in a research note on Friday, March 21st. Royal Bank of Canada upgraded shares of NovaGold Resources from a "hold" rating to a "moderate buy" rating in a research report on Wednesday.
Read Our Latest Analysis on NG
NovaGold Resources Stock Performance
The company has a market capitalization of C$1.37 billion, a price-to-earnings ratio of -30.02 and a beta of 1.07. The firm has a fifty day moving average price of C$4.90 and a 200-day moving average price of C$4.79.
About NovaGold Resources
(
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NovaGold Resources Inc explores for and develops gold mineral properties in the United States. Its principal asset is the Donlin Gold project consisting of 493 mining claims covering an area of approximately 29,008 hectares located in the Kuskokwim region of southwestern Alaska. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc in March 1987.
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