NovaGold Resources is trading 10.3% up at $6.98, extending its recent rebound alongside stronger precious metals and materials stocks.
- Investors appear to be rotating into gold-related names as gold prices rise and broader equity markets hit record highs.
- Market sentiment is supported by easing Middle East tensions and hopes for a potential Strait of Hormuz deal.
- There is no fresh, company-specific news or earnings catalyst disclosed for the company so far today.