NovaGold Resources (TSE:NG) Upgraded by B. Riley Financial to “Strong-Buy” Rating

NovaGold Resources (TSE:NG) was upgraded by investment analysts at B. Riley Financial to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Scotiabank upgraded shares of NovaGold Resources to a “strong-buy” rating in a report on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Strong Buy” and an average target price of C$18.00.

NovaGold Resources Stock Performance

Shares of NovaGold Resources stock opened at C$8.16 on Monday. NovaGold Resources has a 1 year low of C$7.05 and a 1 year high of C$19.69. The company’s fifty day simple moving average is C$9.46 and its 200-day simple moving average is C$12.01. The company has a market cap of C$3.58 billion, a price-to-earnings ratio of -51.00 and a beta of 3.66.

NovaGold Resources (TSE:NG) last released its earnings results on Wednesday, June 24th. The company reported C($0.06) EPS for the quarter.

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.