NovaGold Resources Inc. (TSE:NG) Given Average Recommendation of “Strong Buy” by Brokerages

Shares of NovaGold Resources Inc. (TSE:NG) have earned an average rating of “Strong Buy” from the five research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$18.00.

NG has been the topic of several research analyst reports. Canaccord Genuity Group upgraded shares of NovaGold Resources to a “moderate buy” rating in a research report on Thursday. Scotiabank set a C$21.00 price objective on NovaGold Resources and gave the stock an “outperform” rating in a report on Friday, February 6th.

Insider Transactions at NovaGold Resources

In related news, Director Dawn Patricia Whittaker purchased 4,000 shares of NovaGold Resources stock in a transaction on Wednesday, February 4th. The stock was bought at an average price of C$12.79 per share, with a total value of C$51,160.00. Following the completion of the transaction, the director directly owned 4,000 shares of the company’s stock, valued at approximately C$51,160. This represents a ∞ increase in their ownership of the stock. 26.46% of the stock is owned by company insiders.

NovaGold Resources Price Performance

TSE NG opened at C$11.35 on Friday. The company has a market capitalization of C$4.98 billion, a P/E ratio of -45.40 and a beta of 2.91. NovaGold Resources has a 12 month low of C$3.22 and a 12 month high of C$19.69. The company’s 50 day simple moving average is C$14.27 and its 200 day simple moving average is C$13.18.

NovaGold Resources (TSE:NG) last announced its earnings results on Thursday, January 22nd. The company reported C($0.05) EPS for the quarter.

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.