NovaGold Resources Inc. (TSE:NG - Get Free Report)'s stock price dropped 1.5% during mid-day trading on Thursday . The company traded as low as C$4.95 and last traded at C$5.14. Approximately 320,900 shares were traded during mid-day trading, an increase of 32% from the average daily volume of 243,609 shares. The stock had previously closed at C$5.22.
Wall Street Analysts Forecast Growth
NG has been the topic of several analyst reports. Citigroup raised shares of NovaGold Resources to a "strong-buy" rating in a report on Thursday, October 3rd. National Bank Financial lowered shares of NovaGold Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 24th. Finally, National Bankshares downgraded shares of NovaGold Resources from an "outperform" rating to a "sector perform" rating and boosted their target price for the stock from C$6.50 to C$7.00 in a research note on Thursday, July 25th.
Check Out Our Latest Stock Report on NG
NovaGold Resources Trading Down 2.5 %
The firm has a market capitalization of C$1.68 billion, a price-to-earnings ratio of -26.37 and a beta of 1.07. The business's fifty day moving average price is C$5.45 and its 200 day moving average price is C$5.19.
NovaGold Resources Company Profile
(
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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.
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