Novagold Resources (NYSEAMERICAN:NG) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Novagold Resources (NYSEAMERICAN:NG) (TSE:NG) released its quarterly earnings data on Thursday. The mining company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01), FiscalAI reports.

Novagold Resources Price Performance

Novagold Resources stock opened at $6.36 on Thursday. The company’s 50 day simple moving average is $7.54 and its 200-day simple moving average is $7.68. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of -37.41 and a beta of 0.95. Novagold Resources has a 1 year low of $5.07 and a 1 year high of $14.40. The company has a debt-to-equity ratio of 0.41, a quick ratio of 112.82 and a current ratio of 112.82.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NG shares. B. Riley Financial initiated coverage on shares of Novagold Resources in a research note on Monday, August 3rd. They issued a “buy” rating and a $9.00 price target for the company. Morgan Stanley decreased their price objective on Novagold Resources from $13.60 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Novagold Resources has a consensus rating of “Buy” and a consensus target price of $12.30.

Novagold Resources Company Profile

Novagold Resources Inc is a Canada-based precious metals exploration and development company focused on advancing the Donlin Gold project in southwest Alaska. The project is held through Donlin Gold LLC, which is owned equally by Novagold and Barrick Gold Corporation. Donlin Gold is one of the largest undeveloped gold deposits in the world and is located on lands owned by the Calista Corporation and The Kuskokwim Corporation.

Novagold does not currently operate producing mines. Its primary activities include project evaluation, permitting, technical studies, exploration, and community and stakeholder engagement related to Donlin Gold.