National Bank Financial Downgrades NovaGold Resources (TSE:NG) to Hold

National Bank Financial downgraded shares of NovaGold Resources (TSE:NG) from a strong-buy rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

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

NovaGold Resources Trading Down 1.7 %

Shares of TSE:NG opened at C$6.28 on Wednesday. The company has a market capitalization of C$2.10 billion, a PE ratio of -33.05 and a beta of 0.88. NovaGold Resources has a twelve month low of C$2.98 and a twelve month high of C$6.73. The firm has a 50 day simple moving average of C$5.17 and a 200-day simple moving average of C$4.34.

NovaGold Resources (TSE:NG) last issued its quarterly earnings data on Wednesday, June 26th. The company reported C($0.06) 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.