NovaGold Resources (TSE:NG) Shares Down 2.5% – Here’s What Happened

NovaGold Resources Inc. (TSE:NG) fell 2.5% during trading on Tuesday . The company traded as low as C$13.75 and last traded at C$13.88. 339,980 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 537,450 shares. The stock had previously closed at C$14.23.

Analyst Ratings Changes

A number of research firms have recently weighed in on NG. BMO Capital Markets raised NovaGold Resources to a “strong-buy” rating in a research note on Tuesday, November 4th. National Bankshares raised shares of NovaGold Resources from a “sector perform” rating to an “outperform” rating and set a C$15.00 price objective on the stock in a research report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$15.00.

NovaGold Resources Stock Down 2.5%

The firm has a market capitalization of C$5.65 billion, a price-to-earnings ratio of -55.52 and a beta of 1.88. The business’s fifty day moving average is C$12.57 and its 200 day moving average is C$9.13.

NovaGold Resources (TSE:NG) last released its earnings results on Wednesday, October 1st. The company reported C($0.04) earnings per share (EPS) for the quarter.

NovaGold Resources Company Profile

Novagold Resources Inc is a mineral exploration company engaged in the exploration and development of mineral properties. The company owns 50% of the Donlin Gold project, which is located in southwestern Alaska, approximately 20 kilometers north of the village of Crooked Creek on the Kuskokwim River.