NovaGold Resources (TSE:NG) Upgraded by B. Riley Financial to “Strong-Buy” Rating

B. Riley Financial upgraded shares of NovaGold Resources (TSE:NG) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Separately, Scotiabank upgraded shares of NovaGold Resources to a “strong-buy” rating in a report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, NovaGold Resources presently has a consensus rating of “Strong Buy” and a consensus target price of C$18.00.

NovaGold Resources Stock Performance

Shares of NG opened at C$8.16 on Monday. The company’s fifty day moving average is C$9.46 and its 200 day moving average is C$12.01. NovaGold Resources has a fifty-two week low of C$7.05 and a fifty-two week high of C$19.69. The stock has a market capitalization of C$3.58 billion, a PE ratio of -51.00 and a beta of 3.66.

NovaGold Resources (TSE:NG) last released its quarterly earnings results on Wednesday, June 24th. The company reported C($0.06) earnings per share (EPS) for the quarter.

About NovaGold Resources

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.