Novagold Resources (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) released its earnings results on Thursday. The mining company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01), FiscalAI reports.
Novagold Resources Stock Performance
Novagold Resources stock opened at $6.36 on Thursday. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -37.41 and a beta of 0.95. Novagold Resources has a 12 month low of $5.07 and a 12 month high of $14.40. The company has a debt-to-equity ratio of 0.41, a current ratio of 112.82 and a quick ratio of 112.82. The stock’s 50-day moving average is $7.54 and its 200-day moving average is $7.68.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. B. Riley Financial started coverage on shares of Novagold Resources in a research report on Monday, August 3rd. They set a “buy” rating and a $9.00 price target for the company. Morgan Stanley decreased their price target on shares of Novagold Resources from $13.60 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $12.30.
Novagold Resources Company Profile
Novagold Resources Inc is a Canada-based precious metals exploration and development company focused on advancing the Donlin Gold project in southwest Alaska. The project is held through Donlin Gold LLC, which is owned equally by Novagold and Barrick Gold Corporation. Donlin Gold is one of the largest undeveloped gold deposits in the world and is located on lands owned by the Calista Corporation and The Kuskokwim Corporation.
Novagold does not currently operate producing mines. Its primary activities include project evaluation, permitting, technical studies, exploration, and community and stakeholder engagement related to Donlin Gold.
Further Reading
- Five stocks we like better than Novagold Resources
- Constellation Brands Beat Earnings, But Beer Demand Is Still a Problem
- Tesla’s EV Delivery Beat Is In, So What Happens Now?
- Skydance Just Became a Media Giant—With an $80 Billion Debt Load
- Could Velo3D Be the Next Defense Buyout Target?
Receive News & Ratings for Novagold Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novagold Resources and related companies with MarketBeat.com's FREE daily email newsletter.
