NovaGold Resources (TSE:NG) Shares Down 2.6% - What's Next?

Shares of NovaGold Resources Inc. (TSE:NG - Get Free Report) were down 2.6% during trading on Friday . The stock traded as low as C$4.67 and last traded at C$4.78. Approximately 223,700 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 245,290 shares. The stock had previously closed at C$4.91.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. National Bankshares downgraded shares of NovaGold Resources from an "outperform" rating to a "sector perform" rating and upped their price objective for the company from C$6.50 to C$7.00 in a report on Thursday, July 25th. National Bank Financial downgraded shares of NovaGold Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 24th. Finally, Citigroup raised NovaGold Resources to a "strong-buy" rating in a research note on Thursday, October 3rd.

NovaGold Resources Stock Down 2.6 %

The firm has a market cap of C$1.60 billion, a P/E ratio of -25.16 and a beta of 1.07. The business has a fifty day simple moving average of C$5.18 and a 200-day simple moving average of C$5.25.

NovaGold Resources (TSE:NG - Get Free Report) last announced its earnings results on Wednesday, October 2nd. The company reported C($0.04) earnings per share for the quarter.

NovaGold Resources Company Profile

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.