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’ stock has been on the rise, primarily due to B. Riley’s increased price target of $11, spurred by higher long-term gold price projections. Despite a significant increase in net loss in the latest earnings, insider sentiment remains optimistic with more insiders purchasing shares. Additionally, recent high-grade results from the Donlin Gold Drill Program and strategic developments have bolstered the positive outlook for the company.
More about Novagold Resources New
YTD Price Performance: 147.23%
Average Trading Volume: 3,424,014
Technical Sentiment Signal: Buy
Current Market Cap: $3.46B
For further insights into NG stock on TipRanks’ Stock Analysis page.
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