NovaGold Resources Inc. (TSE:NG) Given Average Rating of “Strong Buy” by Brokerages

Shares of NovaGold Resources Inc. (TSE:NG) have been given a consensus recommendation of “Strong Buy” by the five analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is C$18.00.

Several analysts recently weighed in on the company. Canaccord Genuity Group raised NovaGold Resources to a “moderate buy” rating in a report on Thursday, March 26th. Scotiabank raised NovaGold Resources to a “strong-buy” rating in a report on Wednesday, May 6th.

NovaGold Resources Price Performance

TSE:NG opened at C$11.21 on Friday. The business’s 50-day moving average is C$12.79 and its two-hundred day moving average is C$13.29. NovaGold Resources has a 12 month low of C$4.71 and a 12 month high of C$19.69. The firm has a market capitalization of C$4.92 billion, a PE ratio of -43.12 and a beta of 3.28.

NovaGold Resources (TSE:NG) last announced its earnings results on Wednesday, April 1st. The company reported C($0.05) earnings per share (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.