NovaGold Resources (NYSEAMERICAN:NG) Trading 3.4% Higher

NovaGold Resources Inc. (NYSEAMERICAN:NGGet Rating) (TSE:NG)’s stock price traded up 3.4% on Friday . The stock traded as high as $4.54 and last traded at $4.54. 39,558 shares traded hands 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.

Wall Street Analyst Weigh In

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

NovaGold Resources Stock Performance

The company has a market capitalization of $1.48 billion, a PE ratio of -31.78 and a beta of 0.81. The company has a 50-day moving average of $5.44. The company has a debt-to-equity ratio of 2.14, a quick ratio of 51.94 and a current ratio of 51.94.

NovaGold Resources (NYSEAMERICAN:NGGet Rating) (TSE:NG) last issued its earnings results on Wednesday, June 29th. The mining company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). As a group, sell-side analysts predict that NovaGold Resources Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of NovaGold Resources

Several institutional investors have recently added to or reduced their stakes in NG. First Eagle Investment Management LLC boosted its stake in NovaGold Resources by 21.6% in the 1st quarter. First Eagle Investment Management LLC now owns 14,097,193 shares of the mining company’s stock valued at $108,971,000 after purchasing an additional 2,504,904 shares during the period. Exor Capital LLP lifted its position in shares of NovaGold Resources by 13.6% during the 2nd quarter. Exor Capital LLP now owns 14,211,573 shares of the mining company’s stock valued at $68,358,000 after acquiring an additional 1,705,036 shares during the period. Teacher Retirement System of Texas lifted its position in shares of NovaGold Resources by 98.8% during the 1st quarter. Teacher Retirement System of Texas now owns 949,816 shares of the mining company’s stock valued at $7,342,000 after acquiring an additional 472,000 shares during the period. Deer Park Road Corp lifted its position in shares of NovaGold Resources by 37.1% during the 1st quarter. Deer Park Road Corp now owns 1,647,254 shares of the mining company’s stock valued at $12,733,000 after acquiring an additional 446,032 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of NovaGold Resources by 46.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,398,563 shares of the mining company’s stock valued at $6,725,000 after acquiring an additional 443,855 shares during the period. 52.06% of the stock is currently owned by 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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