Canaccord Genuity Group Upgrades NovaGold Resources (TSE:NG) to Moderate Buy

NovaGold Resources (TSE:NG) was upgraded by stock analysts at Canaccord Genuity Group to a “moderate buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Separately, Scotiabank set a C$21.00 price target on NovaGold Resources and gave the company an “outperform” rating in a research note on Friday, February 6th. Three equities research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus price target of C$18.00.

NovaGold Resources Price Performance

Shares of NovaGold Resources stock opened at C$11.35 on Thursday. The firm has a 50 day simple moving average of C$14.27 and a 200 day simple moving average of C$13.18. NovaGold Resources has a fifty-two week low of C$3.22 and a fifty-two week high of C$19.69. The firm has a market cap of C$4.98 billion, a P/E ratio of -45.40 and a beta of 2.91.

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

Insider Transactions at NovaGold Resources

In other NovaGold Resources news, Director Dawn Patricia Whittaker bought 4,000 shares of the stock in a transaction on Wednesday, February 4th. The stock was purchased at an average price of C$12.79 per share, with a total value of C$51,160.00. Following the acquisition, the director owned 4,000 shares of the company’s stock, valued at approximately C$51,160. The trade was a ∞ increase in their ownership of the stock. Insiders own 26.46% of the company’s stock.

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.