NovaGold Resources Inc. (TSE:NG - Get Free Report) shares shot up 24% during trading on Wednesday . The company traded as high as C$6.53 and last traded at C$6.41. 1,907,457 shares traded hands during mid-day trading, an increase of 384% from the average session volume of 394,140 shares. The stock had previously closed at C$5.17.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on NG. National Bank Financial upgraded shares of NovaGold Resources to a "hold" rating in a research note on Friday, March 21st. Royal Bank of Canada upgraded NovaGold Resources from a "hold" rating to a "moderate buy" rating in a research note on Wednesday.
Read Our Latest Stock Analysis on NG
NovaGold Resources Trading Down 5.6%
The business's fifty day moving average price is C$4.86 and its 200-day moving average price is C$4.78. The company has a market capitalization of C$1.44 billion, a P/E ratio of -31.58 and a beta of 1.07.
NovaGold Resources Company Profile
(
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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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