NovaGold Resources (TSE:NG) Shares Down 10.4%

NovaGold Resources Inc. (TSE:NG) fell 10.4% during mid-day trading on Thursday . The stock traded as low as C$5.02 and last traded at C$5.06. 130,232 shares were traded during mid-day trading, a decline of 46% from the average session volume of 239,350 shares. The stock had previously closed at C$5.65.

Wall Street Analysts Forecast Growth

NG has been the topic of a number of research analyst reports. National Bankshares lowered NovaGold Resources from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from C$6.50 to C$7.00 in a research report on Thursday, July 25th. National Bank Financial lowered NovaGold Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 24th.

NovaGold Resources Stock Down 10.8 %

The company has a market capitalization of C$1.69 billion, a price-to-earnings ratio of -33.06 and a beta of 1.07. The company’s fifty day simple moving average is C$5.88 and its two-hundred day simple moving average is C$5.08.

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.