NovaGold Resources (TSE:NG) Shares Up 0.4% – Here’s Why

NovaGold Resources Inc. (TSE:NG) shares rose 0.4% during mid-day trading on Tuesday . The stock traded as high as C$11.34 and last traded at C$11.18. Approximately 438,828 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 732,283 shares. The stock had previously closed at C$11.13.

Analyst Ratings Changes

Separately, Scotiabank set a C$21.00 price objective on shares of NovaGold Resources and gave the stock an “outperform” rating in a report on Friday, February 6th. Three investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat, NovaGold Resources has a consensus rating of “Strong Buy” and a consensus price target of C$18.00.

NovaGold Resources Stock Up 0.4%

The company has a 50 day simple moving average of C$14.44 and a 200-day simple moving average of C$13.20. The stock has a market cap of C$4.90 billion, a price-to-earnings ratio of -44.72 and a beta of 2.91.

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

Insider Transactions at NovaGold Resources

In other news, Director Dawn Patricia Whittaker acquired 4,000 shares of NovaGold Resources stock in a transaction that occurred on Wednesday, February 4th. The shares were purchased at an average cost of C$12.79 per share, for a total transaction of C$51,160.00. Following the completion of the purchase, the director directly owned 4,000 shares of the company’s stock, valued at C$51,160. This trade represents a ∞ increase in their position. 26.46% of the stock is owned by company insiders.

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.