NovaGold Resources (TSE:NG) Announces Earnings Results

NovaGold Resources (TSE:NG) released its quarterly earnings results on Thursday. The company reported C($0.05) EPS for the quarter, FiscalAI reports.

NovaGold Resources Price Performance

Shares of NovaGold Resources stock opened at C$14.46 on Friday. NovaGold Resources has a 1 year low of C$3.22 and a 1 year high of C$15.57. The firm has a market cap of C$5.88 billion, a price-to-earnings ratio of -57.84 and a beta of 2.08. The company has a 50-day moving average of C$13.42 and a 200 day moving average of C$11.16.

Wall Street Analyst Weigh In

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

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.