NovaGold Resources (TSE:NG) Shares Up 1.4% – What’s Next?

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

Wall Street Analyst Weigh In

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

NovaGold Resources Stock Performance

The stock’s 50 day simple moving average is C$4.95 and its 200 day simple moving average is C$5.35. The firm has a market capitalization of C$1.82 billion, a P/E ratio of -28.63 and a beta of 1.07.

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