National Bank Financial Downgrades NovaGold Resources (TSE:NG) to Hold

National Bank Financial lowered shares of NovaGold Resources (TSE:NG) from a strong-buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

Separately, National Bankshares lowered NovaGold Resources from an outperform rating to a sector perform rating and raised their target price for the stock from C$6.50 to C$7.00 in a research report on Thursday.

NovaGold Resources Price Performance

NovaGold Resources stock opened at C$6.55 on Wednesday. The business has a 50 day moving average of C$5.21 and a 200-day moving average of C$4.35. The company has a market capitalization of C$2.19 billion, a P/E ratio of -34.47 and a beta of 0.88. NovaGold Resources has a 1 year low of C$2.98 and a 1 year high of C$6.73.

NovaGold Resources (TSE:NG) last announced its quarterly 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.