NovaGold Resources (TSE:NG) Given New C$12.00 Price Target at JPMorgan Chase & Co.

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NovaGold Resources (TSE:NG) (AMEX:NG) had its price target hoisted by JPMorgan Chase & Co. from C$8.00 to C$12.00 in a research note published on Wednesday, BayStreet.CA reports.

Shares of TSE NG opened at C$9.17 on Wednesday. The company’s 50-day simple moving average is C$8.25 and its 200-day simple moving average is C$6.21. NovaGold Resources has a 52-week low of C$4.49 and a 52-week high of C$9.46. The firm has a market cap of $2.78 billion and a price-to-earnings ratio of -27.79. The company has a quick ratio of 75.66, a current ratio of 76.65 and a debt-to-equity ratio of 66.84.

NovaGold Resources (TSE:NG) (AMEX:NG) last announced its earnings results on Wednesday, June 26th. The mining company reported C($0.03) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of C($0.03). Equities research analysts anticipate that NovaGold Resources will post -0.04 EPS for the current fiscal year.

In related news, Senior Officer David Ottewell sold 17,740 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$9.38, for a total transaction of C$166,401.20. Following the transaction, the insider now directly owns 562,266 shares in the company, valued at C$5,274,055.08. Also, Senior Officer Melanie Hennessey sold 45,266 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of C$5.80, for a total transaction of C$262,542.80. Following the transaction, the insider now owns 384,181 shares in the company, valued at C$2,228,249.80. Insiders have sold 504,020 shares of company stock worth $3,952,048 over the last 90 days.

NovaGold Resources Company Profile

NovaGold Resources Inc explores for and develops mineral properties in Canada and the United States. The company primarily explores for gold, silver, and copper deposits. It primarily holds a 50% interest in the Donlin Gold property that covers an area of 71,420 acres located in the Kuskokwim region of southwestern Alaska.

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