Analyst Rating Update on Novagold Resources (NG)

Novagold Resources (NG) : 1 analysts are covering Novagold Resources (NG) and their average rating on the stock is 3, which is read as a Hold. A Zacks Investment Research rank of 4, which recommends a Sell affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Company shares have received an average consensus rating of Hold for the current week


Novagold Resources (NYSEMKT:NG): The stock opened at $7.09 on Wednesday but the bulls could not build on the opening and the stock topped out at $7.19 for the day. The stock traded down to $6.91 during the day, due to lack of any buying support eventually closed down at $6.96 with a loss of -2.25% for the day. The stock had closed at $7.12 on the previous day. The total traded volume was 3,111,747 shares.

NOVAGOLD RESOURCES INC. (NOVAGOLD) is engaged in the exploration and development of mineral properties. The Company operates in the mining industry, focused on the exploration for and development of gold and copper mineral properties. The Companys principal assets include a 50% interest in the Donlin Gold project in Alaska, the United States and a 50% interest in the Galore Creek project in British Columbia, Canada. The Companys primary focus is on the Donlin Gold project. The Donlin Gold project is owned and operated by Donlin Gold LLC, a limited liability company that is owned equally by wholly owned subsidiaries of NOVAGOLD and Barrick Gold Corporation (Barrick). The Galore Creek project is owned by the Galore Creek Partnership, a partnership in which NOVAGOLD Canada Inc, a wholly owned subsidiary of NOVAGOLD, owns approximately 50% interest. The Company has no operations or realized revenues from its planned principal business purpose.

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