Analysts Set NovaGold Resources Inc. (TSE:NG) Target Price at C$18.00

Shares of NovaGold Resources Inc. (TSE:NG) have received a consensus recommendation of “Buy” from the five analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$18.00.

A number of equities research analysts have commented on NG shares. National Bankshares upgraded shares of NovaGold Resources from a “sector perform” rating to an “outperform” rating and set a C$15.00 target price on the stock in a research note on Thursday, October 30th. Scotiabank set a C$21.00 target price on shares of NovaGold Resources and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, BMO Capital Markets raised NovaGold Resources to a “strong-buy” rating in a report on Tuesday, November 4th.

Insider Transactions at NovaGold Resources

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

NovaGold Resources Price Performance

Shares of NG stock opened at C$14.14 on Friday. NovaGold Resources has a 1 year low of C$3.22 and a 1 year high of C$16.27. The firm has a fifty day moving average price of C$13.57 and a 200-day moving average price of C$11.79. The company has a market cap of C$6.19 billion, a price-to-earnings ratio of -56.56 and a beta of 2.15.

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

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.