NovaGold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG's stock price shot up 4.1% during mid-day trading on Thursday . The stock traded as high as $3.41 and last traded at $3.40. 463,647 shares were traded during trading, a decline of 78% from the average session volume of 2,071,234 shares. The stock had previously closed at $3.26.
NovaGold Resources Price Performance
The business's 50-day moving average price is $3.22. The firm has a market cap of $1.17 billion, a P/E ratio of -26.81 and a beta of 1.05.
Institutional Investors Weigh In On NovaGold Resources
Hedge funds have recently bought and sold shares of the company. Kopernik Global Investors LLC grew its position in shares of NovaGold Resources by 23.1% in the 4th quarter. Kopernik Global Investors LLC now owns 17,006,844 shares of the mining company's stock valued at $56,633,000 after purchasing an additional 3,187,981 shares during the period. Lingotto Investment Management LLP boosted its holdings in shares of NovaGold Resources by 3.5% in the fourth quarter. Lingotto Investment Management LLP now owns 20,902,054 shares of the mining company's stock valued at $69,604,000 after buying an additional 702,636 shares during the period. Raymond James Financial Inc. bought a new stake in shares of NovaGold Resources during the fourth quarter worth $1,952,000. JPMorgan Chase & Co. raised its holdings in shares of NovaGold Resources by 105.2% during the fourth quarter. JPMorgan Chase & Co. now owns 809,937 shares of the mining company's stock worth $2,697,000 after acquiring an additional 415,188 shares during the period. Finally, Bank of Montreal Can lifted its position in NovaGold Resources by 26.5% in the 3rd quarter. Bank of Montreal Can now owns 1,278,090 shares of the mining company's stock valued at $5,377,000 after acquiring an additional 267,713 shares in the last quarter. 57.56% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading
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