In a report released on September 11, Michael Siperco from RBC Capital maintained a Hold rating on Novagold Resources New (NG – Research Report), with a price target of $6.00. The company’s shares closed yesterday at $3.97.
According to TipRanks, Siperco is an analyst with an average return of -6.1% and a 36.99% success rate. Siperco covers the Basic Materials sector, focusing on stocks such as Pan American Silver, SilverCrest Metals, and New Gold.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Novagold Resources New with a $8.50 average price target.
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NG market cap is currently $1.32B and has a P/E ratio of -24.49.
Based on the recent corporate insider activity of 229 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NG in relation to earlier this year.
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NovaGold Resources, Inc. engages in the acquisition, exploration, and development of metal properties primarily located in Alaska and British Columbia. Its developments include Donlin Gold and Galore Creek projects. The company was founded by Gregory Shawn Johnson, John W. Chisholm, Macisaac G. Angus, Rick van Nieuwenhuyse, and Gerald James McConnell on December 5, 1984 and is headquartered Vancouver, Canada.
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