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NovaGold Resources (NYSEAMERICAN:NG) Stock Price Down 3.9% - Here's What Happened

NovaGold Resources logo with Basic Materials background

Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG fell 3.9% on Wednesday . The stock traded as low as $2.88 and last traded at $2.87. 156,221 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,612,459 shares. The stock had previously closed at $2.98.

Analyst Upgrades and Downgrades

Separately, National Bank Financial raised shares of NovaGold Resources to a "hold" rating in a research note on Friday, March 21st.

View Our Latest Stock Report on NovaGold Resources

NovaGold Resources Stock Down 2.5 %

The business has a 50 day simple moving average of $3.15. The company has a market capitalization of $851.68 million, a PE ratio of -19.83 and a beta of 1.05.

Institutional Investors Weigh In On NovaGold Resources

A number of institutional investors and hedge funds have recently modified their holdings of NG. Sterling Capital Management LLC raised its position in shares of NovaGold Resources by 814.9% in the fourth quarter. Sterling Capital Management LLC now owns 7,813 shares of the mining company's stock valued at $26,000 after buying an additional 6,959 shares in the last quarter. Squarepoint Ops LLC acquired a new position in NovaGold Resources in the 4th quarter valued at $35,000. Wolverine Trading LLC lifted 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 period. AXQ Capital LP acquired a new stake in shares of NovaGold Resources during the 4th quarter worth $59,000. Finally, Jump Financial LLC bought a new position in shares of NovaGold Resources in the fourth quarter worth $67,000. 57.56% of the stock is owned by institutional investors.

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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