NovaGold Resources (TSE:NG) Stock Price Up 13.8% - Still a Buy?

Key Points

• Shares jumped 13.8% to C$12.31 on Wednesday (last close C$10.82) with 439,393 shares traded, about 34% below the average session volume.
• Analysts are broadly bullish — NovaGold holds an average “Strong Buy” rating with an average price target of C$18; Scotiabank set a C$21 target and Canaccord upgraded to “moderate buy.”
• The company has a C$5.40B market cap, reported negative EPS of C($0.05) this quarter (P/E -47.31), and owns 50% of the Donlin Gold project in Alaska.

NovaGold Resources Inc. (TSE:NG - Get Free Report)'s share price traded up 13.8% during trading on Wednesday . The company traded as high as C$12.31 and last traded at C$12.31. 439,393 shares traded hands during trading, a decline of 34% from the average session volume of 664,450 shares. The stock had previously closed at C$10.82.

Analyst Ratings Changes

Several analysts have issued reports on the company. Canaccord Genuity Group upgraded NovaGold Resources to a "moderate buy" rating in a research note on Thursday, March 26th. Scotiabank set a C$21.00 target price on NovaGold Resources and gave the stock an "outperform" rating in a research note on Friday, February 6th. Three investment analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat.com, NovaGold Resources presently has an average rating of "Strong Buy" and an average price target of C$18.00.

NovaGold Resources Trading Up 13.7%

The company has a market cap of C$5.40 billion, a price-to-earnings ratio of -47.31 and a beta of 3.28. The business's 50 day moving average price is C$13.59 and its 200-day moving average price is C$13.34.

NovaGold Resources (TSE:NG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 1st. The company reported C($0.05) EPS for the quarter.

NovaGold Resources Company Profile

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.

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