NovaGold Resources (TSE:NG) Stock Price Down 0.5% – What’s Next?

Shares of NovaGold Resources Inc. (TSE:NG) traded down 0.5% during mid-day trading on Tuesday . The company traded as low as C$9.62 and last traded at C$10.05. Approximately 712,883 shares were traded during trading, an increase of 9% from the average session volume of 651,243 shares. The stock had previously closed at C$10.10.

Analyst Ratings Changes

Separately, B. Riley Financial upgraded NovaGold Resources to a “strong-buy” rating in a report on Monday, August 3rd. Three investment analysts have rated the stock with a Strong Buy rating and two have assigned 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 an average target price of C$18.00.

NovaGold Resources Trading Up 7.0%

The company has a market capitalization of C$4.58 billion, a price-to-earnings ratio of -65.25 and a beta of 3.89. The stock’s 50 day moving average price is C$10.03 and its 200 day moving average price is C$11.30.

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