This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

7 Mining Stocks Analysts Expect to Soar

6. NovaGold Resources (NG), a precious metals company, explores and develops mineral properties in Alaska, the U.S., British Columbia and Canada. The company has a major focus on gold properties, but it also has interests in copper, silver and zinc. The company's major assets are Donlin Creek, Galore Creek and Ambler. NovaGold has 50% stakes in Donlin Creek and Galore Creek.

The company holds 17.3 million ounces gold reserves -- 8.2 million ounces measured and indicated, and 4.5 million ounces as indicated. For its fiscal year ended Nov. 30, 2010, NovaGold's cash and cash equivalents more than tripled, to $151.7 million, from 2009 levels.

Going forward, an estimated $41 million budget for 2011 has been approved for the Donlin Creek Project, 50% of which will be by NovaGold. Similarly, for the Galore Creek, Ambler, and Rock Creek Projects, respective budgets of $12.3 million, $10 million and $8.5 million have been approved. The company expects to announce noteworthy results from the studies at Donlin Creek and Galore Creek in 2011.

NovaGold recently entered into an agreement with Nome Gold Alaska to sell its alluvial gold properties, through its wholly owned subsidiary Alaska Gold Company. These prospects consist of 11,500 acres of fee-simple U.S. patented mining claims near Nome, Alaska. Nome Gold will pay Alaska Gold $21 million in three tranches and also issue a letter of credit for $4 million as an environmental reclamation bond.

Of the five analysts covering the stock, 40% rate it a buy while the remainder rate it a hold. There are no sell ratings on the stock. Analysts polled by Bloomberg expect the stock to gain an average of 30%, to $16.58, in the coming 12 months.

3 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AZC $2.95 -5.75%
NG $4.08 0.00%
PLM $1.10 0.00%
SA $6.07 0.00%
TGB $0.78 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs