NovaGold Resources (TSE:NG) Reaches New 52-Week Low at $6.90

NovaGold Resources Inc. (TSE:NGGet Rating) (AMEX:NG)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$6.90 and last traded at C$7.04, with a volume of 89085 shares trading hands. The stock had previously closed at C$7.14.

Separately, Royal Bank of Canada initiated coverage on NovaGold Resources in a research note on Monday, February 7th. They set a “hold” rating and a C$8.00 price target for the company.

The stock has a 50 day simple moving average of C$9.20 and a 200-day simple moving average of C$8.97. The firm has a market capitalization of C$2.37 billion and a P/E ratio of -42.63. The company has a current ratio of 68.08, a quick ratio of 67.66 and a debt-to-equity ratio of 171.83.

NovaGold Resources (TSE:NGGet Rating) (AMEX:NG) last released its quarterly earnings results on Tuesday, April 5th. The mining company reported C($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.03) by C($0.01). As a group, sell-side analysts expect that NovaGold Resources Inc. will post -0.1 earnings per share for the current fiscal year.

In related news, Director Anthony P. Walsh sold 22,406 shares of the business’s stock in a transaction that occurred on Wednesday, February 23rd. The stock was sold at an average price of C$9.03, for a total transaction of C$202,326.18. Also, Senior Officer Melanie Hennessey sold 41,720 shares of the business’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of C$9.06, for a total value of C$377,983.20. Following the transaction, the insider now owns 610,084 shares of the company’s stock, valued at C$5,527,361.04. Over the last quarter, insiders have sold 227,353 shares of company stock valued at $2,115,062.

About NovaGold Resources (TSE:NG)

NovaGold Resources Inc explores for and develops gold mineral properties in the United States. Its principal asset is the Donlin Gold project consisting of 493 mining claims covering an area of approximately 29,008 hectares located in the Kuskokwim region of southwestern Alaska. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc in March 1987.

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