NovaGold Resources (TSE:NG) Shares Up 3%

NovaGold Resources Inc. (TSE:NG)’s share price shot up 3% on Wednesday . The stock traded as high as C$5.43 and last traded at C$5.41. 108,146 shares were traded during trading, a decline of 56% from the average session volume of 243,033 shares. The stock had previously closed at C$5.25.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NG. National Bank Financial lowered shares of NovaGold Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 24th. National Bankshares lowered shares of NovaGold Resources from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from C$6.50 to C$7.00 in a research note on Thursday, July 25th.

NovaGold Resources Trading Up 3.0 %

The company has a market capitalization of C$1.81 billion, a price-to-earnings ratio of -30.06 and a beta of 1.07. The firm’s 50 day moving average price is C$5.84 and its two-hundred day moving average price is C$4.83.

NovaGold Resources (TSE:NG) last released its quarterly earnings data on Wednesday, June 26th. The company reported C($0.06) earnings per share for the quarter.

About NovaGold Resources

NovaGold Resources Inc explores for and develops gold mineral properties in the United States. Its principal asset is the Donlin Gold project consisting of 493 mining claims covering an area of approximately 29,008 hectares located in the Kuskokwim region of southwestern Alaska. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc in March 1987.