NovaGold Resources (TSE:NG) Stock Price Up 39.2% – Should You Buy?

NovaGold Resources Inc. (TSE:NG)’s stock price traded up 39.2% during trading on Wednesday . The company 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 upgraded NovaGold Resources to a “hold” rating in a report on Friday, March 21st.

NovaGold Resources Trading Up 39.2 %

The firm’s fifty day moving average price is C$4.36 and its 200-day moving average price is C$4.67. The company has a market cap of C$1.43 billion, a P/E ratio of -31.32 and a beta of 1.07.

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.