NovaGold Resources (TSE:NG) Upgraded to “Moderate Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of NovaGold Resources (TSE:NG) to a moderate buy rating in a report released on Thursday morning,Zacks.com reports.

Separately, Scotiabank set a C$21.00 price objective on NovaGold Resources and gave the stock an “outperform” rating in a research note on Friday, February 6th. Three research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat, NovaGold Resources currently has an average rating of “Strong Buy” and a consensus target price of C$18.00.

NovaGold Resources Stock Up 6.0%

Shares of TSE:NG opened at C$11.35 on Thursday. The company’s 50 day moving average price is C$14.27 and its two-hundred day moving average price is C$13.18. NovaGold Resources has a 12-month low of C$3.22 and a 12-month high of C$19.69. The firm has a market cap of C$4.98 billion, a PE ratio of -45.40 and a beta of 2.91.

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

Insider Transactions at NovaGold Resources

In other news, Director Dawn Patricia Whittaker bought 4,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were purchased at an average cost of C$12.79 per share, with a total value of C$51,160.00. Following the acquisition, the director directly owned 4,000 shares in the company, valued at C$51,160. This represents a ∞ increase in their ownership of the stock. 26.46% of the stock is owned by insiders.

NovaGold Resources Company Profile

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.