Analysts Set NovaGold Resources Inc. (TSE:NG) PT at C$18.00

Shares of NovaGold Resources Inc. (TSE:NG) have been given a consensus rating of “Buy” by the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$18.00.

NG has been the subject of several research analyst reports. BMO Capital Markets upgraded shares of 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 target for the company in a research note on Thursday, October 30th. Finally, Scotiabank set a C$21.00 price objective on shares of NovaGold Resources and gave the stock an “outperform” rating in a research report on Friday.

NovaGold Resources Price Performance

Shares of NovaGold Resources stock opened at C$12.56 on Friday. NovaGold Resources has a fifty-two week low of C$3.22 and a fifty-two week high of C$16.27. The firm has a 50 day simple moving average of C$13.58 and a 200 day simple moving average of C$11.70. The firm has a market cap of C$5.11 billion, a P/E ratio of -50.24 and a beta of 2.15.

NovaGold Resources (TSE:NG) last issued its quarterly earnings data on Thursday, January 22nd. The company reported C($0.05) earnings per share (EPS) for the quarter.

Insider Buying and Selling

In other news, Director Dawn Patricia Whittaker acquired 4,000 shares of NovaGold Resources stock in a transaction on Wednesday, February 4th. The stock was purchased at an average price of C$12.79 per share, with a total value of C$51,160.00. Following the completion of the purchase, the director owned 4,000 shares of the company’s stock, valued at approximately C$51,160. The trade was a ∞ increase in their position. Company 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.