NovaGold Resources Inc. (TSE:NG) Receives Consensus Rating of “Buy” from Brokerages

NovaGold Resources Inc. (TSE:NG) has received a consensus rating of “Buy” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$18.00.

A number of equities analysts have commented on the stock. Scotiabank set a C$21.00 price objective on shares of NovaGold Resources and gave the stock an “outperform” rating in a research report on Friday. National Bankshares raised NovaGold Resources from a “sector perform” rating to an “outperform” rating and set a C$15.00 price objective on the stock in a report on Thursday, October 30th. Finally, BMO Capital Markets upgraded NovaGold Resources to a “strong-buy” rating in a research report on Tuesday, November 4th.

Insiders Place Their Bets

In related news, Director Dawn Patricia Whittaker purchased 4,000 shares of NovaGold Resources stock in a transaction on Wednesday, February 4th. The stock was acquired at an average cost of C$12.79 per share, for a total transaction of C$51,160.00. Following the completion of the acquisition, the director owned 4,000 shares of the company’s stock, valued at C$51,160. This trade represents a ∞ increase in their position. 26.46% of the stock is owned by insiders.

NovaGold Resources Price Performance

Shares of NG traded up C$1.33 during mid-day trading on Friday, reaching C$12.71. The company had a trading volume of 728,604 shares, compared to its average volume of 713,667. The company’s 50-day moving average is C$13.61 and its 200-day moving average is C$11.62. The company has a market capitalization of C$5.17 billion, a P/E ratio of -50.84 and a beta of 2.15. NovaGold Resources has a twelve month low of C$3.22 and a twelve month high of C$16.27.

NovaGold Resources (TSE:NG) last announced its earnings results on Thursday, January 22nd. The company reported C($0.05) earnings per share (EPS) for the quarter.

About NovaGold Resources

Novagold Resources Inc is a mineral exploration company engaged in the exploration and development of mineral properties. The company owns 50% of the Donlin Gold project, which is located in southwestern Alaska, approximately 20 kilometers north of the village of Crooked Creek on the Kuskokwim River.