NovaGold Resources (TSE:NG) Trading 39.2% Higher - What's Next?

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

Analysts Set New Price Targets

Separately, National Bank Financial raised shares of NovaGold Resources to a "hold" rating in a research report on Friday, March 21st.

NovaGold Resources Stock Down 10.7 %

The stock has a fifty day moving average of C$4.48 and a two-hundred day moving average of C$4.71. The stock has a market cap of C$1.47 billion, a price-to-earnings ratio of -32.10 and a beta of 1.07.

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.