Novagold Resources New ( (TSE:NG) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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NovaGold Resources New stocks are on the rise as Citi has increased the company’s price target, driven by optimistic short-term gold forecasts influenced by cyclical and tactical factors. Additionally, NovaGold’s recent acquisitions and a larger stake in the Donlin Gold project suggest promising future prospects. However, investors might be wary due to the company’s significant quarterly net loss, although insider sentiment remains positive.
More about Novagold Resources New
YTD Price Performance: 188.05%
Average Trading Volume: 3,780,898
Technical Sentiment Signal: Buy
Current Market Cap: $3.94B
For further insights into NG stock on TipRanks’ Stock Analysis page.
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