NovaGold Resources (NYSEAMERICAN:NG) Trading 3.4% Higher

NovaGold Resources Inc. (NYSEAMERICAN:NGGet Rating) (TSE:NG)’s share price traded up 3.4% during trading on Friday . The stock traded as high as $4.54 and last traded at $4.54. 39,558 shares were traded during mid-day trading, a decline of 96% from the average session volume of 1,055,575 shares. The stock had previously closed at $4.39.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. National Bank Financial assumed coverage on NovaGold Resources in a research note on Wednesday, July 20th. They issued an “outperform” rating for the company. National Bankshares set a C$9.00 price objective on NovaGold Resources and gave the stock an “outperform” rating in a research note on Wednesday, July 20th.

NovaGold Resources Stock Up 1.4 %

The company has a debt-to-equity ratio of 2.14, a current ratio of 51.94 and a quick ratio of 51.94. The firm has a market capitalization of $1.48 billion, a P/E ratio of -31.78 and a beta of 0.81. The firm’s 50-day moving average is $5.44.

NovaGold Resources (NYSEAMERICAN:NGGet Rating) (TSE:NG) last issued its quarterly earnings results on Wednesday, June 29th. The mining company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Equities analysts forecast that NovaGold Resources Inc. will post -0.12 EPS for the current fiscal year.

Institutional Trading of NovaGold Resources

A number of large investors have recently bought and sold shares of NG. First Eagle Investment Management LLC increased its position in NovaGold Resources by 21.6% in the first quarter. First Eagle Investment Management LLC now owns 14,097,193 shares of the mining company’s stock worth $108,971,000 after buying an additional 2,504,904 shares during the last quarter. Exor Capital LLP increased its position in NovaGold Resources by 13.6% in the second quarter. Exor Capital LLP now owns 14,211,573 shares of the mining company’s stock worth $68,358,000 after buying an additional 1,705,036 shares during the last quarter. Teacher Retirement System of Texas increased its position in NovaGold Resources by 98.8% in the first quarter. Teacher Retirement System of Texas now owns 949,816 shares of the mining company’s stock worth $7,342,000 after buying an additional 472,000 shares during the last quarter. Deer Park Road Corp increased its position in NovaGold Resources by 37.1% in the first quarter. Deer Park Road Corp now owns 1,647,254 shares of the mining company’s stock worth $12,733,000 after buying an additional 446,032 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in NovaGold Resources by 46.5% in the second quarter. Russell Investments Group Ltd. now owns 1,398,563 shares of the mining company’s stock worth $6,725,000 after buying an additional 443,855 shares during the last quarter. 52.06% 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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