NovaGold Resources (TSE:NG) Stock Price Down 3.7% – Here’s What Happened

NovaGold Resources Inc. (TSE:NG) shares fell 3.7% on Tuesday . The stock traded as low as C$17.49 and last traded at C$17.52. 63,293 shares were traded during mid-day trading, a decline of 91% from the average session volume of 736,250 shares. The stock had previously closed at C$18.20.

Wall Street Analysts Forecast Growth

Separately, Scotiabank set a C$21.00 price target on NovaGold Resources and gave the stock an “outperform” rating in a research note 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. Based on data from MarketBeat.com, NovaGold Resources presently has an average rating of “Strong Buy” and a consensus target price of C$18.00.

NovaGold Resources Price Performance

The stock has a market capitalization of C$7.58 billion, a price-to-earnings ratio of -69.24 and a beta of 2.15. The company has a 50-day simple moving average of C$14.34 and a two-hundred day simple moving average of C$12.68.

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

Insider Activity at NovaGold Resources

In other NovaGold Resources news, Director Dawn Patricia Whittaker acquired 4,000 shares of NovaGold Resources stock in a transaction dated Wednesday, February 4th. The stock was acquired at an average cost of C$12.79 per share, for a total transaction of C$51,160.00. Following the completion of the transaction, the director owned 4,000 shares in the company, valued at approximately C$51,160. This represents a ∞ increase in their position. 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.