NovaGold Resources Inc. (TSE:NG) Receives Consensus Recommendation of “Strong Buy” from Analysts

NovaGold Resources Inc. (TSE:NG) has been given an average rating of “Strong Buy” by the five research firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$18.00.

NG has been the topic of several analyst reports. Canaccord Genuity Group upgraded NovaGold Resources to a “moderate buy” rating in a report on Thursday, March 26th. Scotiabank upgraded NovaGold Resources to a “strong-buy” rating in a report on Wednesday, May 6th.

NovaGold Resources Price Performance

TSE NG opened at C$11.21 on Friday. NovaGold Resources has a 1-year low of C$4.71 and a 1-year high of C$19.69. The company has a market capitalization of C$4.92 billion, a P/E ratio of -43.12 and a beta of 3.28. The business has a 50 day moving average price of C$12.79 and a 200 day moving average price of C$13.29.

NovaGold Resources (TSE:NG) last released its quarterly earnings results on Wednesday, April 1st. The company reported C($0.05) earnings per share for the quarter.

NovaGold Resources Company Profile

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.