NovaGold Resources (TSE:NG) Upgraded by Scotiabank to Strong-Buy Rating

NovaGold Resources (TSE:NG) was upgraded by stock analysts at Scotiabank to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Separately, Canaccord Genuity Group raised NovaGold Resources to a “moderate buy” rating in a research note on Thursday, March 26th. Three research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy” and a consensus target price of C$18.00.

NovaGold Resources Price Performance

Shares of NG stock opened at C$12.30 on Wednesday. The firm has a market cap of C$5.40 billion, a price-to-earnings ratio of -47.31 and a beta of 3.28. NovaGold Resources has a one year low of C$4.71 and a one year high of C$19.69. The stock’s fifty day simple moving average is C$13.53 and its 200 day simple moving average is C$13.32.

NovaGold Resources (TSE:NG) last released its quarterly earnings results on Wednesday, April 1st. The company reported C($0.05) EPS for the quarter.

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.