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The S&P/TSX Composite Index rose 75 points on Thursday, January 25, 2024. Some of the top-performing sectors included energy, utilities, and battery metals. Today, I want to focus on three of the worst-performing equities to close out 2023. Are these reeling TSX Canadian stocks worth snatching up on the dip? Let’s dive in.
NovaGold Resources (TSX:NG) is a Vancouver-based company that explores for and develops gold mineral properties in the United States. Shares of this gold exploration and mining stock have plunged 21% month over month as of close on January 25. The stock is now down 53% in the year-over-year period. NovaGold stock is now trading a smidgen over its 52-week low at the time of this writing.
The company released its fourth-quarter (Q4) and full-year fiscal 2023 earnings on January 24. NovaGold announced the completion of its 2023 fieldwork, particularly the continuous work at Donlin Gold,…
