NovaGold Resources (TSE:NG) Trading Up 10.1% - Should You Buy?

Shares of NovaGold Resources Inc. (TSE:NG - Get Free Report) were up 10.1% during trading on Wednesday . The stock traded as high as C$5.87 and last traded at C$5.69. Approximately 651,073 shares changed hands during mid-day trading, an increase of 70% from the average daily volume of 382,011 shares. The stock had previously closed at C$5.17.

Analyst Ratings Changes

Several analysts have commented on NG shares. Royal Bank of Canada raised shares of NovaGold Resources from a "hold" rating to a "moderate buy" rating in a research report on Wednesday. National Bank Financial upgraded shares of NovaGold Resources to a "hold" rating in a research note on Friday, March 21st.

NovaGold Resources Stock Performance

The stock has a market cap of C$1.37 billion, a P/E ratio of -30.02 and a beta of 1.07. The stock has a fifty day simple moving average of C$4.93 and a 200-day simple moving average of C$4.79.

About NovaGold Resources

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.