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

NovaGold Resources Inc. (TSE:NG) shares were down 3% on Wednesday . The stock traded as low as C$4.60 and last traded at C$4.60. Approximately 350,944 shares changed hands during mid-day trading, an increase of 110% from the average daily volume of 167,431 shares. The stock had previously closed at C$4.74.

Analyst Ratings Changes

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

NovaGold Resources Stock Performance

The stock has a market capitalization of C$1.54 billion, a PE ratio of -24.21 and a beta of 1.07. The stock’s 50-day moving average is C$4.89 and its 200 day moving average is C$5.32.

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.