Brokerages Set NovaGold Resources Inc. (TSE:NG) PT at C$18.00

NovaGold Resources Inc. (TSE:NG) has received an average recommendation of “Strong Buy” from the five analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$18.00.

A number of research firms have recently issued reports on NG. Canaccord Genuity Group upgraded shares of NovaGold Resources to a “moderate buy” rating in a research report on Thursday, March 26th. Scotiabank set a C$21.00 price target on NovaGold Resources and gave the stock an “outperform” rating in a report on Friday, February 6th.

NovaGold Resources Stock Up 3.7%

Shares of NG opened at C$12.99 on Friday. NovaGold Resources has a 52-week low of C$3.22 and a 52-week high of C$19.69. The company has a 50-day simple moving average of C$14.15 and a 200-day simple moving average of C$13.27. The company has a market capitalization of C$5.70 billion, a PE ratio of -51.96 and a beta of 2.91.

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

Insider Buying and Selling

In other news, Director Dawn Patricia Whittaker bought 4,000 shares of the stock in a transaction 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 completion of the acquisition, the director owned 4,000 shares of the company’s stock, valued at approximately C$51,160. This trade represents a ∞ increase in their ownership of the stock. Insiders own 26.46% of the company’s stock.

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.