Scotiabank Analysts Give NovaGold Resources (TSE:NG) a C$21.00 Price Target

Scotiabank set a C$21.00 price objective on NovaGold Resources (TSE:NG) in a report published on Friday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

NG has been the subject of a number of other reports. National Bankshares upgraded NovaGold Resources from a “sector perform” rating to an “outperform” rating and set a C$15.00 price target for the company in a research report on Thursday, October 30th. BMO Capital Markets upgraded shares of NovaGold Resources to a “strong-buy” rating in a report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, NovaGold Resources presently has an average rating of “Buy” and an average target price of C$18.00.

NovaGold Resources Stock Performance

Shares of TSE NG opened at C$12.56 on Friday. The company has a market cap of C$5.11 billion, a P/E ratio of -50.24 and a beta of 2.15. NovaGold Resources has a 52-week low of C$3.22 and a 52-week high of C$16.27. The firm’s fifty day moving average is C$13.58 and its two-hundred day moving average is C$11.70.

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

Insider Buying and Selling

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

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.