NovaGold Resources (NYSEAMERICAN:NG) Shares Gap Down to $3.98

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) gapped down prior to trading on Monday . The stock had previously closed at $3.98, but opened at $3.90. NovaGold Resources shares last traded at $3.96, with a volume of 105,034 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of NovaGold Resources in a research report on Thursday, October 5th. They issued a “sell” rating on the stock.

NovaGold Resources Price Performance

The firm has a market capitalization of $1.28 billion, a PE ratio of -28.43 and a beta of 0.90. The stock has a fifty day moving average price of $5.50. The company has a current ratio of 33.31, a quick ratio of 33.31 and a debt-to-equity ratio of 3,250.59.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last announced its quarterly earnings results on Wednesday, October 4th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Analysts forecast that NovaGold Resources Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at NovaGold Resources

In other NovaGold Resources news, Director Ethan Schutt purchased 23,677 shares of NovaGold Resources stock in a transaction on Thursday, November 9th. The stock was bought at an average price of $3.59 per share, for a total transaction of $85,000.43. Following the transaction, the director now owns 36,991 shares of the company’s stock, valued at approximately $132,797.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NG. Royal Bank of Canada raised its holdings in shares of NovaGold Resources by 16.9% in the 3rd quarter. Royal Bank of Canada now owns 78,562 shares of the mining company’s stock worth $301,000 after purchasing an additional 11,336 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of NovaGold Resources by 0.4% during the 3rd quarter. Alps Advisors Inc. now owns 1,075,570 shares of the mining company’s stock valued at $4,130,000 after acquiring an additional 4,600 shares during the last quarter. Sun Valley Gold LLC boosted its stake in shares of NovaGold Resources by 62.4% during the 3rd quarter. Sun Valley Gold LLC now owns 2,297,822 shares of the mining company’s stock worth $8,824,000 after acquiring an additional 883,260 shares in the last quarter. Algert Global LLC bought a new stake in shares of NovaGold Resources during the 3rd quarter worth $96,000. Finally, Northern Trust Corp grew its holdings in shares of NovaGold Resources by 1.4% in the 3rd quarter. Northern Trust Corp now owns 1,642,033 shares of the mining company’s stock worth $6,305,000 after acquiring an additional 23,272 shares during the last quarter. Institutional investors own 53.84% 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.