NovaGold Resources (TSE:NG) Posts Quarterly Earnings Results

NovaGold Resources (TSE:NG) released its quarterly earnings results on Wednesday. The company reported C($0.06) earnings per share for the quarter, RTT News reports.

NovaGold Resources Stock Performance

Shares of NG stock opened at C$8.73 on Friday. The firm has a market cap of C$3.83 billion, a price-to-earnings ratio of -33.58 and a beta of 3.41. NovaGold Resources has a 52 week low of C$5.05 and a 52 week high of C$19.69. The firm’s 50-day simple moving average is C$11.42 and its two-hundred day simple moving average is C$12.98.

Analyst Ratings Changes

Several research firms have commented on NG. Canaccord Genuity Group raised shares of NovaGold Resources to a “moderate buy” rating in a research report on Thursday, March 26th. Scotiabank raised NovaGold Resources to a “strong-buy” rating in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy” and a consensus price target of C$18.00.

About NovaGold Resources

NOVAGOLD is a well-financed precious metals company focused on the development of the Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. With approximately 40 million ounces of gold in the Measured and Indicated Mineral Resource categories (560 million tonnes at an average grade of approximately 2.22 grams per tonne, in the Measured and Indicated Mineral Resource categories on a 100% basis)5, inclusive of Proven and Probable Mineral Reserves, the Donlin Gold project is regarded to be one of the largest, highest-grade, and most prospective known open-pit gold deposits in the world.