NovaGold Resources (TSE:NG) Hits New 52-Week High at $9.45

NovaGold Resources Inc. (TSE:NG) (AMEX:NG)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$9.45 and last traded at C$9.45, with a volume of 133414 shares changing hands. The stock had previously closed at C$9.09.

Separately, JPMorgan Chase & Co. lifted their price target on shares of NovaGold Resources from C$8.00 to C$12.00 in a research report on Wednesday, August 14th.

The business’s 50 day moving average is C$8.42 and its 200-day moving average is C$6.30. The firm has a market capitalization of $3.08 billion and a P/E ratio of -28.82. The company has a quick ratio of 75.66, a current ratio of 76.65 and a debt-to-equity ratio of 66.84.

NovaGold Resources (TSE:NG) (AMEX:NG) last posted its earnings results on Wednesday, June 26th. The mining company reported C($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of C($0.03). Research analysts forecast that NovaGold Resources Inc. will post -0.04 EPS for the current fiscal year.

In related news, Senior Officer Melanie Hennessey sold 10,469 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$9.10, for a total value of C$95,267.90. Following the sale, the insider now owns 414,175 shares of the company’s stock, valued at C$3,768,992.50. Also, Senior Officer Ronald Rimelman sold 71,088 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of C$7.49, for a total transaction of C$532,449.12. Following the completion of the sale, the insider now directly owns 115,742 shares in the company, valued at approximately C$866,907.58. In the last ninety days, insiders have sold 514,489 shares of company stock worth $4,047,316.

About NovaGold Resources (TSE:NG)

NovaGold Resources Inc explores for and develops mineral properties in Canada and the United States. The company primarily explores for gold, silver, and copper deposits. It primarily holds a 50% interest in the Donlin Gold property that covers an area of 71,420 acres located in the Kuskokwim region of southwestern Alaska.

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