Is Novagold Resources Inc.’s (AMEX: NG) Stock Ready For A Price Spike?

NOVA

In the last trading session, 2.55 million shares of the Novagold Resources Inc. (AMEX:NG) were traded, and its beta was 1.03. Most recently the company’s share price was $2.81, and it changed around -$0.29 or -9.35% from the last close, which brings the market valuation of the company to $939.58M. NG currently trades at a discount to its 52-week high of $5.75, offering almost -104.63% off that amount. The share price’s 52-week low was $2.22, which indicates that the current value has risen by an impressive 21.0% since then. We note from Novagold Resources Inc.’s average daily trading volume that its 3-month average coming to 2.46 million.

Novagold Resources Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.67. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended NG as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Novagold Resources Inc. is expected to report earnings per share of $NGN/USD for the current quarter.

Novagold Resources Inc. (AMEX:NG) trade information

Instantly NG has showed a red trend with a performance of -9.35% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -24.87% year-to-date, but still down -10.51% over the last five days. On the other hand, Novagold Resources Inc. (AMEX:NG) is 4.07% up in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $5.25, which translates to bulls needing to increase their stock price by 46.48% from its current value. Analyst projections state that NG is forecast to be at a low of $5.25 and a high of $5.25.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -6.70%.

NG Dividends

Novagold Resources Inc.’s next quarterly earnings report is expected to be released in May.