B.Riley FBR analyst Lucas Pipes maintained a Buy rating on Novagold Resources Inc New (NYSE MKT: NG) on June 4 and set a price target of $7. The company’s shares closed yesterday at $4.57.
According to TipRanks.com, Pipes is a 5-star analyst with an average return of 10.4% and a 68.3% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Hallador Energy Company, and Cloud Peak Energy Inc.
Novagold Resources Inc New has an analyst consensus of Hold.
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Based on Novagold Resources Inc New’s latest earnings release for the quarter ending February 28, the company reported a quarterly GAAP net loss of $8.22 million. In comparison, last year the company had a GAAP net loss of $8.46 million.
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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.
