NovaGold Resources (TSE:NG) Reaches New 1-Year High – Still a Buy?

Shares of NovaGold Resources Inc. (TSE:NG) reached a new 52-week high on Thursday . The company traded as high as C$15.57 and last traded at C$14.67, with a volume of 881207 shares trading hands. The stock had previously closed at C$13.79.

Analyst Upgrades and Downgrades

NG has been the subject of a number of analyst reports. National Bankshares raised NovaGold Resources from a “sector perform” rating to an “outperform” rating and set a C$15.00 price objective for the company in a research note on Thursday, October 30th. BMO Capital Markets upgraded NovaGold Resources to a “strong-buy” rating in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, NovaGold Resources currently has a consensus rating of “Buy” and a consensus target price of C$15.00.

NovaGold Resources Price Performance

The business’s 50-day moving average price is C$13.38 and its two-hundred day moving average price is C$11.14. The company has a market capitalization of C$5.88 billion, a P/E ratio of -57.84 and a beta of 2.08.

NovaGold Resources (TSE:NG) last released its quarterly earnings data on Thursday, January 22nd. The company reported C($0.05) EPS for the quarter.

About NovaGold Resources

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.