NovaGold Resources Inc. (NYSEAMERICAN:NG) Short Interest Down 16.1% in April

NovaGold Resources Inc. (NYSEAMERICAN:NGGet Rating) (TSE:NG) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 6,370,000 shares, a decrease of 16.1% from the March 31st total of 7,590,000 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average trading volume of 1,660,000 shares, the short-interest ratio is currently 3.8 days.

In related news, CEO Gregory A. Lang sold 51,104 shares of the firm’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $7.67, for a total transaction of $391,967.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory A. Lang sold 54,280 shares of the business’s stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $8.15, for a total value of $442,382.00. Following the completion of the sale, the chief executive officer now directly owns 3,852 shares in the company, valued at $31,393.80. The disclosure for this sale can be found here. Insiders have sold a total of 149,850 shares of company stock worth $1,145,426 in the last quarter. Company insiders own 29.05% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Centiva Capital LP bought a new position in shares of NovaGold Resources in the third quarter worth about $28,000. Whittier Trust Co. lifted its holdings in shares of NovaGold Resources by 100.0% in the fourth quarter. Whittier Trust Co. now owns 10,000 shares of the mining company’s stock worth $69,000 after buying an additional 5,000 shares in the last quarter. Keene & Associates Inc. bought a new position in shares of NovaGold Resources during the fourth quarter worth $69,000. St. Johns Investment Management Company LLC grew its stake in NovaGold Resources by 545.0% during the first quarter. St. Johns Investment Management Company LLC now owns 9,900 shares of the mining company’s stock valued at $77,000 after acquiring an additional 8,365 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in NovaGold Resources by 173.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 12,050 shares of the mining company’s stock worth $80,000 after purchasing an additional 7,650 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

NYSEAMERICAN NG opened at $6.27 on Wednesday. The firm has a market cap of $2.09 billion, a PE ratio of -52.25 and a beta of 0.65. NovaGold Resources has a 1-year low of $5.92 and a 1-year high of $10.45. The company has a current ratio of 38.66, a quick ratio of 38.66 and a debt-to-equity ratio of 1.48.

NovaGold Resources (NYSEAMERICAN:NGGet Rating) (TSE:NG) last posted its quarterly earnings data on Tuesday, April 5th. The mining company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). As a group, analysts forecast that NovaGold Resources will post -0.09 EPS for the current fiscal year.

NG has been the subject of several recent analyst reports. Zacks Investment Research cut shares of NovaGold Resources from a “hold” rating to a “sell” rating in a report on Friday, April 15th. Royal Bank of Canada set a $8.00 target price on NovaGold Resources and gave the company a “sector perform” rating in a research note on Monday, February 7th.

NovaGold Resources Company Profile (Get Rating)

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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