NovaGold Resources (TSE:NG) Trading 4.2% Higher – Still a Buy?

NovaGold Resources Inc. (TSE:NG)’s share price rose 4.2% on Tuesday . The stock traded as high as C$13.56 and last traded at C$13.49. 950,621 shares changed hands during trading, an increase of 46% from the average daily volume of 652,852 shares. The stock had previously closed at C$12.95.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. B. Riley Financial upgraded NovaGold Resources to a “strong-buy” rating in a report on Monday, August 3rd. Scotiabank upgraded NovaGold Resources to a “strong-buy” rating in a report on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and an average target price of C$18.00.

NovaGold Resources Stock Down 2.5%

The firm has a market cap of C$5.52 billion, a P/E ratio of -78.56 and a beta of 3.63. The firm’s 50-day moving average price is C$9.51 and its 200 day moving average price is C$11.70.

NovaGold Resources (TSE:NG) last issued its quarterly earnings data on Wednesday, June 24th. The company reported C($0.06) earnings per share for the quarter.

NovaGold Resources Company Profile

NOVAGOLD is a well-financed precious metals company focused on the development of the Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. With approximately 40 million ounces of gold in the Measured and Indicated Mineral Resource categories (560 million tonnes at an average grade of approximately 2.22 grams per tonne, in the Measured and Indicated Mineral Resource categories on a 100% basis)5, inclusive of Proven and Probable Mineral Reserves, the Donlin Gold project is regarded to be one of the largest, highest-grade, and most prospective known open-pit gold deposits in the world.