B.Riley/FBR Starts NovaGold Resources (NG) at Buy Citing Attractive Valuation and 'Unique Gold Opportunity'

December 19, 2017 12:29 AM EST
Get Alerts NG Hot Sheet
Price: $4.70 -2.29%

Rating Summary:
    2 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 12 | New: 10
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B.Riley/FBR initiates coverage on NovaGold Resources (NYSE: NG) with a Buy rating and a price target of $7.00.

Analyst Lucas Pipes believes the market is over-looking the benefits to the company that can be derived from the Donlin Gold project in Alaska which the company owns 50% of. The analyst comments "We believe that this asset holds exceptional longterm value due to its scale and grade, as well as the stable regulatory environment. Donlin is currently in pre-production, which is what we believe causes many investors to overlook this unique opportunity in the gold space. In addition to the proven gold reserve, the Donlin property has several additional exploration targets that have the potential to increase the asset's reserve and mine life down the road."

For an analyst ratings summary and ratings history on NovaGold Resources click here. For more ratings news on NovaGold Resources click here.

Shares of NovaGold Resources closed at $3.78 yesterday.

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