NovaGold Resources (TSE:NG) Shares Up 2.6% – Here’s What Happened

NovaGold Resources Inc. (TSE:NG) was up 2.6% during mid-day trading on Tuesday . The stock traded as high as C$4.83 and last traded at C$4.81. Approximately 141,260 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 236,098 shares. The stock had previously closed at C$4.69.

Analyst Ratings Changes

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

NovaGold Resources Stock Performance

The business has a 50 day moving average of C$4.91 and a 200-day moving average of C$5.30. The company has a market capitalization of C$1.66 billion, a P/E ratio of -26.16 and a beta of 1.07.

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