NovaGold Resources (NYSEAMERICAN:NG) Releases Quarterly Earnings Results, Meets Expectations

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) announced its quarterly earnings data on Wednesday. The mining company reported ($0.02) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02), MarketWatch Earnings reports.

NYSEAMERICAN:NG opened at $8.61 on Friday. NovaGold Resources has a 1 year low of $4.65 and a 1 year high of $12.85.

Several brokerages have recently issued reports on NG. B. Riley reaffirmed a “buy” rating and issued a $30.00 price target on shares of NovaGold Resources in a research report on Friday, April 3rd. Zacks Investment Research raised NovaGold Resources from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday, May 29th.

In other NovaGold Resources news, CEO Gregory A. Lang sold 69,645 shares of NovaGold Resources stock in a transaction on Friday, April 3rd. The shares were sold at an average price of $8.46, for a total transaction of $589,196.70. Following the completion of the sale, the chief executive officer now owns 127,001 shares of the company’s stock, valued at approximately $1,074,428.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anthony P. Walsh sold 18,459 shares of NovaGold Resources stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $9.28, for a total transaction of $171,299.52. Following the sale, the director now directly owns 63,736 shares of the company’s stock, valued at approximately $591,470.08. The disclosure for this sale can be found here. Insiders sold a total of 275,843 shares of company stock valued at $2,880,661 in the last 90 days.

NovaGold Resources Company Profile

NovaGold Resources Inc primarily explores for and develops gold mineral properties in Canada and the United States. Its principal asset is the Donlin Gold property covering an area of 71,420 acres 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.

Further Reading: Understanding dividend yield and dividend payout ratio

Earnings History for NovaGold Resources (NYSEAMERICAN:NG)

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