NovaGold Resources Inc. (NYSEAMERICAN:NG) Director Purchases $85,000.43 in Stock

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) Director Ethan Schutt purchased 23,677 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was purchased at an average cost of $3.59 per share, with a total value of $85,000.43. Following the acquisition, the director now directly owns 36,991 shares in the company, valued at $132,797.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NovaGold Resources Stock Down 2.8 %

NovaGold Resources stock opened at $3.86 on Thursday. The firm has a 50 day moving average of $5.50. The company has a debt-to-equity ratio of 3,250.59, a current ratio of 33.31 and a quick ratio of 33.31. NovaGold Resources Inc. has a twelve month low of $3.29 and a twelve month high of $6.98. The firm has a market capitalization of $1.29 billion, a PE ratio of -27.57 and a beta of 0.90.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last posted its quarterly earnings data on Wednesday, October 4th. The mining company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Equities analysts anticipate that NovaGold Resources Inc. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

NG has been the subject of a number of research analyst reports. StockNews.com assumed coverage on NovaGold Resources in a research note on Thursday, October 5th. They issued a “sell” rating for the company. National Bank Financial cut their price objective on NovaGold Resources from C$10.75 to C$9.50 in a report on Friday, July 21st.

Institutional Trading of NovaGold Resources

Institutional investors have recently modified their holdings of the company. Public Sector Pension Investment Board raised its position in NovaGold Resources by 7.9% in the 1st quarter. Public Sector Pension Investment Board now owns 509,376 shares of the mining company’s stock valued at $3,150,000 after buying an additional 37,370 shares during the last quarter. Goehring & Rozencwajg Associates LLC boosted its position in NovaGold Resources by 4.5% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 221,803 shares of the mining company’s stock worth $1,380,000 after acquiring an additional 9,620 shares during the last quarter. Quintet Private Bank Europe S.A. bought a new position in shares of NovaGold Resources during the 1st quarter worth approximately $108,000. Contravisory Investment Management Inc. acquired a new stake in shares of NovaGold Resources in the second quarter valued at approximately $154,000. Finally, Robertson Stephens Wealth Management LLC lifted its position in shares of NovaGold Resources by 24.9% in the first quarter. Robertson Stephens Wealth Management LLC now owns 144,053 shares of the mining company’s stock worth $896,000 after purchasing an additional 28,673 shares in the last quarter. 53.84% of the stock is currently owned by institutional investors.

About NovaGold Resources

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.