UK business activity picks up in July, PMI data shows By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 24 2024
0mins
Source: Investing.com
Economic Growth in the UK: British business activity has increased, with manufacturing growth reaching a two-year high and new orders at their strongest since April 2023, indicating optimism for the new government led by Prime Minister Keir Starmer.
Inflation and Interest Rates: Inflation pressures have decreased to their lowest in over three years, leading to speculation about the Bank of England's interest rate decisions, although recent data suggests that cuts from the current 5.25% rate may not occur soon.
Analyst Views on NG
Wall Street analysts forecast NG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NG is 13.96 USD with a low forecast of 10.90 USD and a high forecast of 17.44 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 9.990
Low
10.90
Averages
13.96
High
17.44
Current: 9.990
Low
10.90
Averages
13.96
High
17.44
About NG
NOVAGOLD Resources Inc. is a precious metals company. The Company is focused on the development of the Donlin Gold project. The Donlin Gold property is located in the Kuskokwim region of southwestern Alaska on private, Alaska Native-owned mineral and surface land and Alaska state mining claims. The Donlin Gold deposits are situated at approximately 62 North latitude and 158 West longitude, which is 450 kilometers (km) west of Anchorage and 250 km northeast of Bethel up the Kuskokwim River. The Donlin Gold project is located in the historic Kuskokwim Gold Belt of Southwest Alaska, 10 miles north of the village of Crooked Creek, and is managed by Donlin Gold LLC, which is owned by NOVAGOLD and Paulson Advisers LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
