RBC Capital Sticks to Its Hold Rating for NovaGold Resources

By Ryan Adsit

Yesterday, an analyst has provided a rating update for the Materials sector company, NovaGold Resources (TSX: NG). Analyst Stephen Walker from RBC Capital remains neutral on the stock and has a C$9 price target.

According to TipRanks.com, Walker is a 3-star analyst with an average return of 0.8% and a 46.5% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Novagold Resources Inc New.

NovaGold Resources has an analyst consensus of Hold, with a price target consensus of C$9.

NovaGold Resources’ market cap is currently C$1.74B and has a P/E ratio of 0.

NovaGold Resources, Inc. engages in the acquisition, exploration, and development of metal properties primarily located in Alaska and British Columbia. Its developments include Donlin Gold and Galore Creek projects. The company was founded by Gregory S. Johnson, John W. Chisholm, Macisaac G. Angus and Gerald James McConnell on December 5, 1984 and is headquartered Vancouver, Canada.

The company’s shares closed last Tuesday at $5.68, close to its 52-week low of $5.09.