NovaGold Resources (TSE:NG) Price Target Raised to C$12.00

NovaGold Resources (TSE:NG) (AMEX:NG) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from C$8.00 to C$12.00 in a research note issued on Wednesday, BayStreet.CA reports. JPMorgan Chase & Co.‘s target price points to a potential upside of 29.17% from the company’s previous close.

Shares of NG stock traded up C$0.46 during trading on Wednesday, reaching C$9.29. The company’s stock had a trading volume of 244,887 shares, compared to its average volume of 252,079. The company has a quick ratio of 75.66, a current ratio of 76.65 and a debt-to-equity ratio of 66.84. The firm has a market cap of $2.78 billion and a P/E ratio of -28.00. The company has a 50-day simple moving average of C$8.14. NovaGold Resources has a 1-year low of C$4.49 and a 1-year high of C$9.42.

NovaGold Resources (TSE:NG) (AMEX:NG) last announced its quarterly earnings data on Wednesday, June 26th. The mining company reported C($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of C($0.03). Sell-side analysts anticipate that NovaGold Resources will post -0.04 EPS for the current fiscal year.

In other news, Senior Officer David Ottewell sold 17,740 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$9.38, for a total transaction of C$166,401.20. Following the completion of the sale, the insider now owns 562,266 shares in the company, valued at approximately C$5,274,055.08. Also, Senior Officer Richard Williams sold 17,285 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of C$5.60, for a total transaction of C$96,796.00. Following the sale, the insider now owns 275,425 shares of the company’s stock, valued at approximately C$1,542,380. Insiders sold 504,020 shares of company stock valued at $3,952,048 in the last quarter.

NovaGold Resources Company Profile

NovaGold Resources Inc explores for and develops mineral properties in Canada and the United States. The company primarily explores for gold, silver, and copper deposits. It primarily holds a 50% interest in the Donlin Gold property that covers an area of 71,420 acres located in the Kuskokwim region of southwestern Alaska.

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