National Bankshares downgraded shares of NovaGold Resources (TSE:NG – Free Report) from an outperform rating to a sector perform rating in a report published on Thursday morning, BayStreet.CA reports. They currently have C$7.00 target price on the stock, up from their prior target price of C$6.50.
NovaGold Resources Trading Up 4.3 %
NG opened at C$6.55 on Thursday. NovaGold Resources has a 1-year low of C$2.98 and a 1-year high of C$6.73. The company has a market cap of C$2.19 billion, a P/E ratio of -34.47 and a beta of 0.88. The company has a fifty day moving average price of C$5.21 and a two-hundred day moving average price of C$4.34.
NovaGold Resources (TSE:NG – Get Free Report) last posted its quarterly earnings results on Wednesday, June 26th. The company reported C($0.06) earnings per share for the quarter.
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.
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