NovaGold Resources (NYSEAMERICAN:NG) Trading Up 4% - Still a Buy?

NovaGold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG's share price traded up 4% during mid-day trading on Monday . The company traded as high as $3.11 and last traded at $3.10. 1,641,621 shares were traded during mid-day trading, a decline of 2% from the average session volume of 1,678,161 shares. The stock had previously closed at $2.98.

Analyst Upgrades and Downgrades

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

NovaGold Resources Stock Performance

The business has a fifty day moving average of $3.12 and a 200-day moving average of $3.41. The firm has a market capitalization of $1.49 billion, a P/E ratio of -34.19 and a beta of 1.05.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NG. Barclays PLC boosted its holdings in shares of NovaGold Resources by 19.9% in the third quarter. Barclays PLC now owns 917,835 shares of the mining company's stock worth $3,762,000 after buying an additional 152,164 shares during the period. JPMorgan Chase & Co. raised its position in NovaGold Resources by 21.5% during the third quarter. JPMorgan Chase & Co. now owns 394,749 shares of the mining company's stock valued at $1,618,000 after acquiring an additional 69,785 shares in the last quarter. Geode Capital Management LLC lifted its stake in NovaGold Resources by 0.3% in the third quarter. Geode Capital Management LLC now owns 3,046,926 shares of the mining company's stock valued at $12,497,000 after acquiring an additional 9,629 shares during the last quarter. Vanguard Group Inc. lifted its stake in NovaGold Resources by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 10,754,870 shares of the mining company's stock valued at $35,963,000 after acquiring an additional 169,209 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of NovaGold Resources during the 4th quarter worth $76,000. Institutional investors own 57.56% of the company's stock.

NovaGold Resources Company Profile

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.