NovaGold Resources (TSE:NG) Stock Price Up 39.2% - Still a Buy?

NovaGold Resources Inc. (TSE:NG - Get Free Report) shot up 39.2% during mid-day trading on Tuesday . The stock traded as high as C$6.31 and last traded at C$6.00. 1,599,408 shares traded hands during mid-day trading, an increase of 458% from the average session volume of 286,535 shares. The stock had previously closed at C$4.31.

Analyst Upgrades and Downgrades

Separately, National Bank Financial upgraded NovaGold Resources to a "hold" rating in a research note on Friday, March 21st.

NovaGold Resources Stock Performance

The stock has a market capitalization of C$1.47 billion, a price-to-earnings ratio of -32.10 and a beta of 1.07. The business's 50 day simple moving average is C$4.48 and its 200-day simple moving average is C$4.71.

NovaGold Resources Company Profile

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.