NovaGold Resources (TSE:NG) Stock Price Up 3.4% - What's Next?

Key Points

• NovaGold Resources' stock price increased by 3.4% during mid-day trading on Friday, closing at C$13.95, after reaching a high of C$14.49.
• The company has a market capitalization of C$5.68 billion and has seen a significant increase in trading volume, with 1,089,244 shares traded—119% above the average.
• Analysts have given the stock a Moderate Buy average rating, with a target price increase from C$7.00 to C$10.00 by National Bankshares.

NovaGold Resources Inc. (TSE:NG - Get Free Report)'s stock price shot up 3.4% during mid-day trading on Friday . The stock traded as high as C$14.49 and last traded at C$13.95. 1,089,244 shares traded hands during trading, an increase of 119% from the average session volume of 497,260 shares. The stock had previously closed at C$13.49.

Wall Street Analyst Weigh In

NG has been the subject of a number of research reports. Citigroup upgraded NovaGold Resources to a "strong-buy" rating in a research note on Tuesday, July 15th. National Bankshares upped their target price on NovaGold Resources from C$7.00 to C$10.00 and gave the stock a "sector perform" rating in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$10.00.

NovaGold Resources Stock Up 3.4%

The stock has a market cap of C$5.68 billion, a P/E ratio of -53.65 and a beta of 1.28. The company's 50 day moving average price is C$9.33 and its 200-day moving average price is C$6.76.

Insider Buying and Selling

In other news, Director Ethan Schutt purchased 3,824 shares of the company's stock in a transaction dated Monday, July 28th. The shares were purchased at an average price of C$7.17 per share, for a total transaction of C$27,399.34. Insiders own 26.46% of the company's stock.

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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