NovaGold Resources (TSE:NG) Stock Price Down 1.5% – What’s Next?

NovaGold Resources Inc. (TSE:NG) traded down 1.5% during trading on Thursday . The stock traded as low as C$4.95 and last traded at C$5.14. 320,900 shares changed hands during trading, an increase of 32% from the average session volume of 243,609 shares. The stock had previously closed at C$5.22.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NG. National Bank Financial cut shares of NovaGold Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Citigroup raised shares of NovaGold Resources to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, National Bankshares cut NovaGold Resources from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from C$6.50 to C$7.00 in a report on Thursday, July 25th.

NovaGold Resources Trading Down 2.5 %

The firm’s 50 day simple moving average is C$5.45 and its 200 day simple moving average is C$5.19. The firm has a market cap of C$1.68 billion, a PE ratio of -26.37 and a beta of 1.07.

NovaGold Resources Company Profile

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.