NovaGold Resources (NYSEAMERICAN:NG) Share Price Crosses Above 200-Day Moving Average of $0.00

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $3.10. NovaGold Resources shares last traded at $3.10, with a volume of 1,986,775 shares.

Analysts Set New Price Targets

Separately, National Bank Financial restated an “outperform overweight” rating on shares of NovaGold Resources in a research report on Wednesday, January 3rd.

NovaGold Resources Trading Up 1.0 %

The firm has a market capitalization of $1.04 billion, a P/E ratio of -23.85 and a beta of 1.06. The company has a current ratio of 65.41, a quick ratio of 65.41 and a debt-to-equity ratio of 3,250.59.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last issued its quarterly earnings results on Wednesday, January 24th. The mining company reported ($0.03) EPS for the quarter.

Institutional Investors Weigh In On NovaGold Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in NovaGold Resources by 47.1% in the first quarter. JPMorgan Chase & Co. now owns 1,148,564 shares of the mining company’s stock valued at $8,878,000 after purchasing an additional 367,773 shares during the period. Raymond James & Associates grew its holdings in NovaGold Resources by 19.9% in the first quarter. Raymond James & Associates now owns 87,901 shares of the mining company’s stock valued at $679,000 after purchasing an additional 14,573 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in NovaGold Resources in the first quarter valued at approximately $78,000. Bank of New York Mellon Corp grew its holdings in NovaGold Resources by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 656,705 shares of the mining company’s stock valued at $5,076,000 after purchasing an additional 8,220 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in NovaGold Resources by 37.5% in the first quarter. MetLife Investment Management LLC now owns 112,267 shares of the mining company’s stock valued at $868,000 after purchasing an additional 30,641 shares during the period. 57.56% of the stock is currently owned by hedge funds and other 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.