Novagold Resources Inc. (NYSEAMERICAN:NG) Receives Average Rating of “Moderate Buy” from Brokerages

Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $13.26.

NG has been the subject of several research analyst reports. Royal Bank Of Canada cut their target price on Novagold Resources from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, March 19th. Scotiabank assumed coverage on Novagold Resources in a research report on Friday, February 6th. They set a “sector outperform” rating for the company. B. Riley Financial lifted their price target on shares of Novagold Resources from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Canaccord Genuity Group assumed coverage on shares of Novagold Resources in a report on Friday, March 27th. They issued a “speculative buy” rating and a $13.00 price target on the stock. Finally, Morgan Stanley assumed coverage on shares of Novagold Resources in a report on Thursday. They issued an “overweight” rating and a $13.80 price target on the stock.

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 shares were bought at an average cost of $9.36 per share, for a total transaction of $37,440.00. Following the acquisition, the director owned 4,000 shares in the company, valued at approximately $37,440. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.88% of the company’s stock.

Institutional Trading of Novagold Resources

A number of large investors have recently added to or reduced their stakes in NG. Torren Management LLC bought a new stake in Novagold Resources in the 4th quarter worth approximately $27,000. Leonteq Securities AG bought a new stake in Novagold Resources in the 4th quarter worth approximately $38,000. Hantz Financial Services Inc. bought a new stake in Novagold Resources in the 3rd quarter worth approximately $40,000. Shepherd Financial Partners LLC bought a new stake in Novagold Resources in the 2nd quarter worth approximately $41,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Novagold Resources in the 2nd quarter worth $44,000. Institutional investors own 57.56% of the company’s stock.

Novagold Resources Stock Performance

Shares of NYSEAMERICAN NG opened at $9.34 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 88.72 and a quick ratio of 88.72. Novagold Resources has a 1 year low of $2.47 and a 1 year high of $14.40. The firm has a fifty day moving average price of $10.14 and a 200-day moving average price of $9.66. The stock has a market cap of $4.10 billion, a PE ratio of -35.92 and a beta of 0.90.

About Novagold Resources

Novagold Resources Inc is a mineral exploration and development company headquartered in Vancouver, British Columbia. The firm is focused on advancing large-scale precious metals projects through disciplined project management, environmental stewardship and community engagement. Novagold maintains a lean corporate structure while leveraging partnerships and industry expertise to advance its projects toward production.

The company’s flagship asset is the Donlin Gold project in Alaska, a 50/50 joint venture with Barrick Gold Corporation.