NovaGold Resources (TSE:NG) Hits New 52-Week Low – Here’s Why

Shares of NovaGold Resources Inc. (TSE:NG) reached a new 52-week low during trading on Friday . The stock traded as low as C$3.64 and last traded at C$3.74, with a volume of 262972 shares. The stock had previously closed at C$3.98.

Wall Street Analyst Weigh In

Separately, National Bank Financial upgraded shares of NovaGold Resources to a “hold” rating in a research note on Friday, March 21st.

NovaGold Resources Stock Down 6.8 %

The company has a market capitalization of C$884.25 million, a PE ratio of -19.37 and a beta of 1.07. The stock’s 50 day moving average is C$4.53 and its two-hundred day moving average is C$4.84.

About NovaGold Resources

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.