NovaGold Resources (TSE:NG) Stock Price Down 3% – Time to Sell?

NovaGold Resources Inc. (TSE:NG)’s stock price fell 3% on Wednesday . The stock traded as low as C$4.60 and last traded at C$4.60. 350,944 shares traded hands during trading, an increase of 110% from the average session volume of 167,431 shares. The stock had previously closed at C$4.74.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded shares of NovaGold Resources to a “strong-buy” rating in a report on Thursday, October 3rd.

NovaGold Resources Stock Performance

The company’s fifty day simple moving average is C$4.89 and its two-hundred day simple moving average is C$5.32. The stock has a market capitalization of C$1.54 billion, a PE ratio of -24.21 and a beta of 1.07.

NovaGold Resources Company Profile

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.