NovaGold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG's share price gapped up before the market opened on Wednesday . The stock had previously closed at $2.28, but opened at $2.41. NovaGold Resources shares last traded at $2.33, with a volume of 653,994 shares trading hands.
Analyst Upgrades and Downgrades
Separately, National Bank Financial raised NovaGold Resources to a "hold" rating in a report on Friday, March 21st.
Read Our Latest Research Report on NG
NovaGold Resources Stock Up 2.1 %
The company has a market cap of $960.45 million, a P/E ratio of -22.08 and a beta of 1.05. The firm's 50-day moving average price is $3.06 and its 200-day moving average price is $3.40.
Institutional Trading of NovaGold Resources
A number of institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its position in shares of NovaGold Resources by 814.9% during the 4th quarter. Sterling Capital Management LLC now owns 7,813 shares of the mining company's stock valued at $26,000 after purchasing an additional 6,959 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of NovaGold Resources in the 4th quarter valued at about $35,000. Wolverine Trading LLC boosted its position in shares of NovaGold Resources by 4,789.1% during the 4th quarter. Wolverine Trading LLC now owns 16,318 shares of the mining company's stock valued at $53,000 after acquiring an additional 16,666 shares during the last quarter. AXQ Capital LP purchased a new position in shares of NovaGold Resources during the fourth quarter worth about $59,000. Finally, Jump Financial LLC bought a new position in shares of NovaGold Resources in the fourth quarter worth approximately $67,000. Hedge funds and other institutional investors own 57.56% of the company's stock.
About NovaGold Resources
(
Get Free Report)
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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