Zacks: Brokerages Set $7.50 Target Price for Novagold Resources Inc. (NG)

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Novagold Resources Inc. (NASDAQ:NG) has been given an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price objective of $7.50 for the company and are expecting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also assigned Novagold Resources an industry rank of 60 out of 255 based on the ratings given to its competitors.

Several equities analysts recently commented on NG shares. BidaskClub lowered shares of Novagold Resources from a “hold” rating to a “sell” rating in a research report on Thursday. B. Riley restated a “buy” rating on shares of Novagold Resources in a research note on Friday, January 25th.

Shares of NASDAQ:NG traded down $0.04 during midday trading on Monday, hitting $3.66. The stock had a trading volume of 60,050 shares, compared to its average volume of 1,042,719. Novagold Resources has a 1 year low of $3.41 and a 1 year high of $5.05.

Novagold Resources (NASDAQ:NG) last issued its earnings results on Wednesday, January 23rd. The company reported ($0.02) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02).

Novagold Resources Company Profile

NovaGold Resources Inc explores for and develops mineral properties in Canada and the United States. The company primarily explores for gold, silver, and copper deposits. It primarily holds a 50% interest in the Donlin Gold property that covers an area of 71,420 acres located in the Kuskokwim region of southwestern Alaska.

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