NovaGold Resources (TSE:NG) Issues Earnings Results

NovaGold Resources (TSE:NG) announced its quarterly earnings data on Thursday. The company reported C($0.05) earnings per share for the quarter, FiscalAI reports.

NovaGold Resources Stock Down 6.2%

Shares of TSE NG opened at C$13.57 on Friday. The firm’s 50-day moving average price is C$13.45 and its two-hundred day moving average price is C$11.21. NovaGold Resources has a 52-week low of C$3.22 and a 52-week high of C$15.57. The stock has a market capitalization of C$5.52 billion, a P/E ratio of -54.28 and a beta of 2.08.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. BMO Capital Markets raised NovaGold Resources to a “strong-buy” rating in a report on Tuesday, November 4th. National Bankshares upgraded NovaGold Resources from a “sector perform” rating to an “outperform” rating and set a C$15.00 target price for the company in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$15.00.

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.