In a latest note to investors, a research analyst has provided a rating update for the NovaGold Resources (NG). Analyst Stephen Walker from RBC Capital remains neutral on the stock and has a C$6.50 price target.
According to TipRanks.com, Walker is a 3-star analyst with an average return of 1.7% and a 43.5% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Novagold Resources Inc New, Teck Resources Limited, and Hudbay Minerals Inc.
NovaGold Resources has an analyst consensus of Moderate Buy, with a price target consensus of C$6.50.
NovaGold Resources’ market cap is currently C$1.67B and has a P/E ratio of 0. The company has a Price to Book ratio of 7.73.
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’s shares closed on Wednesday at C$5.33.
