NovaGold Resources Inc. (TSE:NG - Get Free Report) shares rose 24% on Wednesday . 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
NG has been the topic of a number of research reports. National Bank Financial upgraded 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 note on Wednesday.
View Our Latest Stock Report on NG
NovaGold Resources Stock Down 4.8%
The firm has a 50-day simple moving average of C$4.90 and a 200-day simple moving average of C$4.79. The stock has a market cap of C$1.37 billion, a PE ratio of -30.07 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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