NovaGold Resources (NG) Stock Forecast & Price Target

C$6.55

+0.27 (+4.30%)

(As of 07/26/2024 ET)

Stock Analysis Analyst Forecasts Chart Competitors Earnings

NovaGold Resources - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold
Based on 2 Analyst Ratings

Based on 2 Wall Street analysts who have issued ratings for NovaGold Resources in the last 12 months, the stock has a consensus rating of "Hold." Out of the 2 analysts, 2 have given a hold rating for NG.

Consensus Price Target

C$7.00
6.87% Upside

High Forecast	C$7.00
Average Forecast	C$7.00
Low Forecast	C$7.00

According to the 2 analysts' twelve-month price targets for NovaGold Resources, the average price target is C$7.00. The highest price target for NG is C$7.00, while the lowest price target for NG is C$7.00. The average price target represents a forecasted upside of 6.87% from the current price of C$6.55.

Type	Current Forecast 7/28/23 to 7/27/24	1 Month Ago 6/28/23 to 6/27/24	3 Months Ago 4/29/23 to 4/28/24	1 Year Ago 7/28/22 to 7/28/23
Consensus Rating	Hold	N/A	N/A	N/A
Strong Buy	0 Strong Buy rating(s)	N/A	N/A	N/A
Buy	0 Buy rating(s)	N/A	N/A	N/A
Hold	2 Hold rating(s)	N/A	N/A	N/A
Sell	0 Sell rating(s)	N/A	N/A	N/A
Consensus Price Target	C$7.00	N/A	N/A	N/A
Forecasted Upside	6.87% Upside	N/A	N/A	N/A

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NG Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

NG Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

NovaGold Resources Stock vs. The Competition

Type	NovaGold Resources	Basic Materials Companies
Consensus Rating Score	2.00	2.64
Consensus Rating	Hold	Moderate Buy
News Sentiment Rating	Negative News	Neutral News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date	Details
7/25/2024	National Bankshares 1 of 5 stars		Downgrade	Outperform ➝ Sector Perform	C$6.50 ➝ C$7.00	+14.38%
7/24/2024	National Bank Financial 5 of 5 stars	M. Parkin Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Strong-Buy ➝ Hold

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 06:42 AM ET.

NG Forecast - Frequently Asked Questions

What is NovaGold Resources' forecast for 2024?: According to the research reports of 2 Wall Street equities research analysts, the average twelve-month stock price forecast for NovaGold Resources is C$7.00, with a high forecast of C$7.00 and a low forecast of C$7.00.
Should I buy or sell NovaGold Resources stock right now?: 2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for NovaGold Resources in the last twelve months. There are currently 2 hold ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" NG shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in NG, but not buy additional shares or sell existing shares.
Does NovaGold Resources's stock price have much upside?: According to analysts, NovaGold Resources's stock has a predicted upside of 14.38% based on their 12-month stock forecasts.
Has NovaGold Resources been downgraded by Wall Street analysts recently?: Over the previous 90 days, NovaGold Resources's stock had 2 downgrades by analysts.
What analysts cover NovaGold Resources?: NovaGold Resources has been rated by research analysts at National Bank Financial, and National Bankshares in the past 90 days.
Do Wall Street analysts like NovaGold Resources more than its competitors?: Analysts like NovaGold Resources less than other "basic materials" companies. The consensus rating for NovaGold Resources is Hold while the average consensus rating for "basic materials" companies is Moderate Buy. Learn more on how NG compares to other companies.