Zacks: Novagold Resources Inc. (NG) Receives Average Rating of “Strong Buy” from Analysts

Shares of Novagold Resources Inc. (NASDAQ:NG) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus target price of $7.50 for the company and are expecting that the company will post ($0.03) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Novagold Resources an industry rank of 60 out of 255 based on the ratings given to related companies.

Several equities research analysts have commented on the stock. BidaskClub lowered shares of Novagold Resources from a “hold” rating to a “sell” rating in a report on Thursday. B. Riley reissued a “buy” rating on shares of Novagold Resources in a research note on Friday, January 25th.

NASDAQ:NG traded down $0.04 during mid-day trading on Monday, hitting $3.66. The company’s stock had a trading volume of 60,050 shares, compared to its average volume of 1,042,719. Novagold Resources has a 1 year low of $3.41 and a 1 year high of $5.05.

Novagold Resources (NASDAQ:NG) last posted its quarterly earnings results on Wednesday, January 23rd. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02).

Novagold Resources Company Profile

NovaGold Resources Inc explores for and develops mineral properties in Canada and the United States. The company primarily explores for gold, silver, and copper deposits. It primarily holds a 50% interest in the Donlin Gold property that covers an area of 71,420 acres located in the Kuskokwim region of southwestern Alaska.

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