NovaGold Resources (TSE:NG) Shares Up 2.6% – Still a Buy?

Shares of NovaGold Resources Inc. (TSE:NG) shot up 2.6% during mid-day trading on Tuesday . The company traded as high as C$4.83 and last traded at C$4.81. 141,260 shares traded hands during trading, a decline of 40% from the average session volume of 236,098 shares. The stock had previously closed at C$4.69.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded NovaGold Resources to a “strong-buy” rating in a research report on Thursday, October 3rd.

NovaGold Resources Trading Up 2.6 %

The stock has a fifty day simple moving average of C$4.92 and a two-hundred day simple moving average of C$5.30. The firm has a market cap of C$1.61 billion, a PE ratio of -25.32 and a beta of 1.07.

NovaGold Resources (TSE:NG) last posted its earnings results on Wednesday, October 2nd. The company reported C($0.04) earnings per share for the quarter.

About NovaGold Resources

NovaGold Resources Inc explores for and develops gold mineral properties in the United States. Its principal asset is the Donlin Gold project consisting of 493 mining claims covering an area of approximately 29,008 hectares located in the Kuskokwim region of southwestern Alaska. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc in March 1987.