NovaGold Resources (TSE:NG) Shares Down 0.6% – Time to Sell?

NovaGold Resources Inc. (TSE:NG) dropped 0.6% during mid-day trading on Wednesday . The company traded as low as C$11.07 and last traded at C$11.29. Approximately 713,219 shares traded hands during trading, an increase of 32% from the average daily volume of 542,109 shares. The stock had previously closed at C$11.36.

Analyst Upgrades and Downgrades

NG has been the subject of a number of research reports. Citigroup upgraded shares of NovaGold Resources to a “strong-buy” rating in a research report on Tuesday, July 15th. National Bankshares boosted their target price on shares of NovaGold Resources from C$7.00 to C$10.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, NovaGold Resources currently has an average rating of “Moderate Buy” and an average target price of C$10.00.

NovaGold Resources Stock Down 0.6%

The business’s 50-day simple moving average is C$11.23 and its two-hundred day simple moving average is C$7.93. The firm has a market cap of C$4.59 billion, a price-to-earnings ratio of -45.16 and a beta of 1.73.

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.