NovaGold Resources (TSE:NG) Stock Price Down 1.1% – Should You Sell?

NovaGold Resources Inc. (TSE:NG)’s stock price fell 1.1% on Monday . The stock traded as low as C$10.00 and last traded at C$10.07. 655,673 shares were traded during trading, an increase of 4% from the average session volume of 631,708 shares. The stock had previously closed at C$10.18.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NG. Scotiabank upgraded NovaGold Resources to a “strong-buy” rating in a report on Wednesday, May 6th. Canaccord Genuity Group upgraded NovaGold Resources to a “moderate buy” rating in a report on Thursday, March 26th. Three equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and an average target price of C$18.00.

NovaGold Resources Price Performance

The firm has a fifty day moving average price of C$12.02 and a two-hundred day moving average price of C$13.24. The stock has a market capitalization of C$4.42 billion, a PE ratio of -38.73 and a beta of 3.41.

NovaGold Resources (TSE:NG) last issued its quarterly earnings results on Wednesday, April 1st. The company reported C($0.05) earnings per share 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.