NovaGold Resources (TSE:NG) Issues Earnings Results

NovaGold Resources (TSE:NG) announced its quarterly earnings data on Wednesday. The company reported C($0.06) EPS for the quarter, RTT News reports.

NovaGold Resources Price Performance

NovaGold Resources stock opened at C$8.80 on Thursday. The firm has a market capitalization of C$3.86 billion, a P/E ratio of -33.85 and a beta of 3.41. NovaGold Resources has a one year low of C$4.97 and a one year high of C$19.69. The business has a fifty day moving average price of C$11.53 and a 200-day moving average price of C$13.02.

Analysts Set New Price Targets

Several equities analysts recently commented on NG shares. Canaccord Genuity Group upgraded NovaGold Resources to a “moderate buy” rating in a research note on Thursday, March 26th. Scotiabank raised NovaGold Resources to a “strong-buy” rating in a report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Strong Buy” and a consensus price target of C$18.00.

NovaGold Resources Company Profile

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.