NovaGold Resources (TSE:NG) Stock Price Up 39.2% – Still a Buy?

NovaGold Resources Inc. (TSE:NG) shares traded up 39.2% on Wednesday . The stock traded as high as C$6.31 and last traded at C$6.00. 1,599,408 shares were traded during mid-day trading, an increase of 458% from the average session volume of 286,535 shares. The stock had previously closed at C$4.31.

Analyst Ratings Changes

Separately, National Bank Financial raised shares of NovaGold Resources to a “hold” rating in a report on Friday, March 21st.

NovaGold Resources Stock Up 6.5 %

The company has a market capitalization of C$1.64 billion, a PE ratio of -35.97 and a beta of 1.07. The business has a 50 day simple moving average of C$4.45 and a 200 day simple moving average of C$4.70.

NovaGold Resources Company Profile

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.