National Bank Financial Lowers 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 research note released on Wednesday morning, Zacks.com reports.

Separately, National Bankshares downgraded NovaGold Resources from an outperform rating to a sector perform rating and increased their price objective for the company from C$6.50 to C$7.00 in a research report on Thursday.

NovaGold Resources Trading Up 4.3 %

NovaGold Resources stock opened at C$6.55 on Wednesday. NovaGold Resources has a 52 week low of C$2.98 and a 52 week high of C$6.73. The stock has a market cap of C$2.19 billion, a price-to-earnings ratio of -34.47 and a beta of 0.88. The company’s 50-day moving average price is C$5.21 and its two-hundred day moving average price is C$4.35.

NovaGold Resources (TSE:NG) last issued 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.