NovaGold Resources Inc. (TSE:NG) Receives Consensus Recommendation of “Strong Buy” from Analysts

NovaGold Resources Inc. (TSE:NG) has been given an average rating of “Strong Buy” by the five research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$18.00.

A number of equities analysts recently issued reports on the stock. Scotiabank set a C$21.00 target price on shares of NovaGold Resources and gave the stock an “outperform” rating in a research report on Friday, February 6th. Canaccord Genuity Group raised shares of NovaGold Resources to a “moderate buy” rating in a report on Thursday.

Insider Activity at NovaGold Resources

In related news, Director Dawn Patricia Whittaker bought 4,000 shares of NovaGold Resources stock in a transaction that occurred on Wednesday, February 4th. The stock was acquired at an average price of C$12.79 per share, for a total transaction of C$51,160.00. Following the completion of the purchase, the director owned 4,000 shares in the company, valued at approximately C$51,160. This represents a ∞ increase in their ownership of the stock. Corporate insiders own 26.46% of the company’s stock.

NovaGold Resources Stock Up 6.0%

NG opened at C$11.35 on Friday. The stock’s 50 day moving average price is C$14.27 and its two-hundred day moving average price is C$13.18. The firm has a market capitalization of C$4.98 billion, a P/E ratio of -45.40 and a beta of 2.91. NovaGold Resources has a 12-month low of C$3.22 and a 12-month high of C$19.69.

NovaGold Resources (TSE:NG) last issued 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.