Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG were down 2.2% during trading on Friday . The company traded as low as $3.34 and last traded at $3.38. Approximately 1,160,719 shares were traded during trading, a decline of 45% from the average daily volume of 2,095,837 shares. The stock had previously closed at $3.45.
NovaGold Resources Price Performance
The company has a market cap of $1.11 billion, a P/E ratio of -25.58 and a beta of 1.05. The company has a 50-day moving average price of $3.22.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Kopernik Global Investors LLC grew its position in NovaGold Resources by 23.1% during the fourth 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 in the last quarter. Lingotto Investment Management LLP grew its position in NovaGold Resources by 3.5% during 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 purchasing an additional 702,636 shares in the last quarter. Raymond James Financial Inc. purchased a new position in NovaGold Resources during the fourth quarter valued at approximately $1,952,000. JPMorgan Chase & Co. grew its position in NovaGold Resources by 105.2% in 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 in the last quarter. Finally, Bank of Montreal Can grew its position in NovaGold Resources by 26.5% in the third quarter. Bank of Montreal Can now owns 1,278,090 shares of the mining company's stock worth $5,377,000 after acquiring an additional 267,713 shares in the last quarter. 57.56% of the stock is owned by hedge funds and other institutional investors.
About NovaGold Resources
(
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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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