NovaGold Resources (TSE:NG) PT Set at C$21.00 by Scotiabank

NovaGold Resources (TSE:NG) has been assigned a C$21.00 target price by stock analysts at Scotiabank in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 67.20% from the company’s current price.

Several other equities research analysts also recently commented on NG. National Bankshares upgraded shares of NovaGold Resources from a “sector perform” rating to an “outperform” rating and set a C$15.00 target price on the stock in a research report on Thursday, October 30th. BMO Capital Markets raised shares of NovaGold Resources to a “strong-buy” rating in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$18.00.

NovaGold Resources Price Performance

NovaGold Resources stock opened at C$12.56 on Friday. NovaGold Resources has a one year low of C$3.22 and a one year high of C$16.27. The firm has a 50-day moving average of C$13.58 and a 200-day moving average of C$11.68. The company has a market cap of C$5.11 billion, a price-to-earnings ratio of -50.24 and a beta of 2.15.

NovaGold Resources (TSE:NG) last posted its earnings results on Thursday, January 22nd. The company reported C($0.05) EPS for the quarter.

Insiders Place Their Bets

In other news, Director Dawn Patricia Whittaker purchased 4,000 shares of the stock in a transaction on Wednesday, February 4th. The stock was purchased at an average price of C$12.79 per share, for a total transaction of C$51,160.00. Following the acquisition, the director owned 4,000 shares in the company, valued at C$51,160. This trade represents a ∞ increase in their ownership of the stock. Corporate insiders own 26.46% of the company’s stock.

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.