NovaGold Resources (TSE:NG) Stock Price Down 1.1% – Time to Sell?

NovaGold Resources Inc. (TSE:NG) shares dropped 1.1% on Monday . The stock traded as low as C$10.00 and last traded at C$10.07. Approximately 655,673 shares changed hands during trading, an increase of 4% from the average daily volume of 631,708 shares. The stock had previously closed at C$10.18.

Analyst Ratings Changes

NG has been the subject of several recent analyst reports. Canaccord Genuity Group raised NovaGold Resources to a “moderate buy” rating in a report on Thursday, March 26th. Scotiabank raised NovaGold Resources to a “strong-buy” rating in a report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Strong Buy” and an average target price of C$18.00.

NovaGold Resources Price Performance

The company has a market cap of C$4.16 billion, a PE ratio of -36.50 and a beta of 3.41. The company has a fifty day moving average price of C$11.95 and a 200 day moving average price of C$13.21.

NovaGold Resources (TSE:NG) last issued its quarterly earnings data on Wednesday, April 1st. The company reported C($0.05) EPS for the quarter.

About NovaGold Resources

NOVAGOLD is a well-financed precious metals company focused on the development of the Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. With approximately 40 million ounces of gold in the Measured and Indicated Mineral Resource categories (560 million tonnes at an average grade of approximately 2.22 grams per tonne, in the Measured and Indicated Mineral Resource categories on a 100% basis)5, inclusive of Proven and Probable Mineral Reserves, the Donlin Gold project is regarded to be one of the largest, highest-grade, and most prospective known open-pit gold deposits in the world.