Analysts Set NovaGold Resources Inc. (TSE:NG) PT at C$18.00

NovaGold Resources Inc. (TSE:NG) has been given an average recommendation of “Strong Buy” by the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is C$18.00.

A number of equities analysts have recently commented on the stock. Scotiabank raised shares of NovaGold Resources to a “strong-buy” rating in a research report on Wednesday, May 6th. Canaccord Genuity Group raised shares of NovaGold Resources to a “moderate buy” rating in a research report on Thursday, March 26th.

NovaGold Resources Stock Performance

Shares of TSE:NG opened at C$10.67 on Friday. The firm has a market cap of C$4.68 billion, a PE ratio of -41.04 and a beta of 3.28. The firm’s 50 day simple moving average is C$12.24 and its 200-day simple moving average is C$13.27. NovaGold Resources has a one year low of C$4.71 and a one year high of C$19.69.

NovaGold Resources (TSE:NG) last issued its earnings results on Wednesday, April 1st. The company reported C($0.05) EPS for the quarter.

About NovaGold Resources

NOVAGOLD is a well-financed precious metals company focused on the development of the Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. With approximately 40 million ounces of gold in the Measured and Indicated Mineral Resource categories (560 million tonnes at an average grade of approximately 2.22 grams per tonne, in the Measured and Indicated Mineral Resource categories on a 100% basis)5, inclusive of Proven and Probable Mineral Reserves, the Donlin Gold project is regarded to be one of the largest, highest-grade, and most prospective known open-pit gold deposits in the world.