Shares of NovaGold Resources Inc. (TSE:NG - Get Free Report) were up 24% during trading on Thursday . The stock traded as high as C$6.53 and last traded at C$6.41. Approximately 1,907,457 shares traded hands during mid-day trading, an increase of 384% from the average daily volume of 394,140 shares. The stock had previously closed at C$5.17.
Analysts Set New Price Targets
A number of research firms have weighed in on NG. Royal Bank of Canada upgraded shares of NovaGold Resources from a "hold" rating to a "moderate buy" rating in a research note on Wednesday. National Bank Financial raised shares of NovaGold Resources to a "hold" rating in a report on Friday, March 21st.
View Our Latest Analysis on NG
NovaGold Resources Stock Performance
The firm has a 50 day moving average price of C$4.90 and a two-hundred day moving average price of C$4.79. The company has a market capitalization of C$1.37 billion, a P/E ratio of -30.02 and a beta of 1.07.
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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