Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG hit a new 52-week low during trading on Thursday . The company traded as low as $2.26 and last traded at $2.51, with a volume of 6369801 shares traded. The stock had previously closed at $2.28.
Analyst Ratings Changes
Separately, National Bank Financial upgraded NovaGold Resources to a "hold" rating in a research note on Friday, March 21st.
Read Our Latest Research Report on NovaGold Resources
NovaGold Resources Trading Up 1.4 %
The firm's 50 day simple moving average is $3.06 and its two-hundred day simple moving average is $3.39. The firm has a market cap of $963.79 million, a price-to-earnings ratio of -22.15 and a beta of 1.05.
Institutional Investors Weigh In On NovaGold Resources
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its position in NovaGold Resources by 814.9% during the 4th quarter. Sterling Capital Management LLC now owns 7,813 shares of the mining company's stock worth $26,000 after purchasing an additional 6,959 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of NovaGold Resources during the fourth quarter worth $35,000. Wolverine Trading LLC increased its holdings in shares of NovaGold Resources by 4,789.1% during the fourth quarter. Wolverine Trading LLC now owns 16,318 shares of the mining company's stock worth $53,000 after buying an additional 16,666 shares in the last quarter. AXQ Capital LP bought a new position in shares of NovaGold Resources in the 4th quarter valued at $59,000. Finally, Jump Financial LLC acquired a new stake in shares of NovaGold Resources during the 4th quarter valued at $67,000. 57.56% of the stock is currently owned by institutional investors.
NovaGold Resources Company Profile
(
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NovaGold Resources Inc explores for and develops gold mineral properties in the United States. Its principal asset is the Donlin Gold project consisting of 493 mining claims covering an area of approximately 29,008 hectares located in the Kuskokwim region of southwestern Alaska. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc in March 1987.
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