NovaGold Resources (TSE:NG) Trading Up 1.4% – Here’s What Happened

NovaGold Resources Inc. (TSE:NG) shot up 1.4% during trading on Monday . The stock traded as high as C$5.18 and last traded at C$4.90. 348,213 shares changed hands during trading, an increase of 45% from the average session volume of 240,086 shares. The stock had previously closed at C$4.83.

Analysts Set New Price Targets

Separately, Citigroup upgraded shares of NovaGold Resources to a “strong-buy” rating in a research note on Thursday, October 3rd.

NovaGold Resources Trading Up 9.2 %

The company has a fifty day moving average price of C$4.95 and a 200-day moving average price of C$5.35. The firm has a market cap of C$1.82 billion, a price-to-earnings ratio of -28.63 and a beta of 1.07.

NovaGold Resources (TSE:NG) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported C($0.04) earnings per share for the quarter.

NovaGold Resources Company Profile

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.