NovaGold Resources (TSE:NG) Sets New 12-Month High – Should You Buy?

NovaGold Resources Inc. (TSE:NG)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as C$15.57 and last traded at C$14.67, with a volume of 881207 shares trading hands. The stock had previously closed at C$13.79.

Analyst Ratings Changes

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

NovaGold Resources Stock Down 6.2%

The business has a 50-day moving average price of C$13.45 and a two-hundred day moving average price of C$11.21. The company has a market capitalization of C$5.52 billion, a price-to-earnings ratio of -54.28 and a beta of 2.08.

NovaGold Resources (TSE:NG) last announced its quarterly earnings results on Thursday, January 22nd. The company reported C($0.05) 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.