National Bankshares downgraded shares of NovaGold Resources (TSE:NG – Free Report) from an outperform rating to a sector perform rating in a research note released on Thursday, BayStreet.CA reports. They currently have C$7.00 price target on the stock, up from their previous price target of C$6.50.
NovaGold Resources Stock Up 4.3 %
Shares of NG opened at C$6.55 on Thursday. NovaGold Resources has a 52-week low of C$2.98 and a 52-week high of C$6.73. The firm’s fifty day moving average is C$5.21 and its two-hundred day moving average is C$4.34. The stock has a market cap of C$2.19 billion, a PE ratio of -34.47 and a beta of 0.88.
NovaGold Resources (TSE:NG – Get Free Report) last announced its earnings results on Wednesday, June 26th. The company reported C($0.06) earnings per share (EPS) for the quarter.
About NovaGold Resources
NovaGold Resources Inc explores for and develops gold mineral properties in the United States. Its principal asset is the Donlin Gold project consisting of 493 mining claims covering an area of approximately 29,008 hectares located in the Kuskokwim region of southwestern Alaska. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc in March 1987.
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