NovaGold Resources (TSE:NG) Stock Rating Upgraded by Canaccord Genuity Group

NovaGold Resources (TSE:NG) was upgraded by equities researchers at Canaccord Genuity Group to a “moderate buy” rating in a research report issued on Thursday,Zacks.com reports.

Separately, Scotiabank set a C$21.00 target price on shares of NovaGold Resources and gave the stock an “outperform” rating in a report on Friday, February 6th. Three research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Strong Buy” and an average target price of C$18.00.

NovaGold Resources Trading Up 6.0%

Shares of TSE NG opened at C$11.35 on Thursday. The company has a market capitalization of C$4.98 billion, a price-to-earnings ratio of -45.40 and a beta of 2.91. NovaGold Resources has a twelve month low of C$3.22 and a twelve month high of C$19.69. The business has a 50 day simple moving average of C$14.27 and a 200-day simple moving average of C$13.18.

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

Insider Buying and Selling

In other NovaGold Resources news, Director Dawn Patricia Whittaker bought 4,000 shares of the 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 transaction, the director directly owned 4,000 shares in the company, valued at C$51,160. The trade was a ∞ increase in their ownership of the stock. 26.46% of the stock is currently owned by corporate insiders.

About NovaGold Resources

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.