Cibc World Market Inc. Sells 6,570 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

Cibc World Market Inc. decreased its stake in NovaGold Resources Inc. (NYSEAMERICAN:NGGet Rating) (TSE:NG) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,312 shares of the mining company’s stock after selling 6,570 shares during the period. Cibc World Market Inc.’s holdings in NovaGold Resources were worth $540,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Alpha Cubed Investments LLC bought a new position in shares of NovaGold Resources during the 2nd quarter valued at $48,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of NovaGold Resources during the 1st quarter valued at $78,000. Engineers Gate Manager LP bought a new position in shares of NovaGold Resources during the 1st quarter valued at $85,000. Aire Advisors LLC bought a new position in shares of NovaGold Resources during the 2nd quarter valued at $96,000. Finally, Versor Investments LP bought a new position in shares of NovaGold Resources during the 2nd quarter valued at $141,000. Institutional investors own 52.06% of the company’s stock.

NovaGold Resources Price Performance

Shares of NovaGold Resources stock opened at $5.40 on Tuesday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 45.43 and a current ratio of 45.44. The stock has a 50-day simple moving average of $5.44. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -36.00 and a beta of 0.73. NovaGold Resources Inc. has a 1 year low of $4.06 and a 1 year high of $8.36.

NovaGold Resources (NYSEAMERICAN:NGGet Rating) (TSE:NG) last issued its quarterly earnings results on Tuesday, October 4th. The mining company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, equities analysts anticipate that NovaGold Resources Inc. will post -0.12 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on NG. B. Riley dropped their price target on shares of NovaGold Resources from $28.00 to $10.00 in a research report on Tuesday, October 25th. National Bank Financial increased their price target on shares of NovaGold Resources from C$9.00 to C$10.00 in a research report on Thursday, October 13th.

Insider Buying and Selling at NovaGold Resources

In other NovaGold Resources news, CEO Gregory A. Lang sold 45,382 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $5.57, for a total transaction of $252,777.74. Following the completion of the sale, the chief executive officer now directly owns 9,049 shares in the company, valued at approximately $50,402.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NovaGold Resources news, CEO Gregory A. Lang sold 45,382 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $5.57, for a total transaction of $252,777.74. Following the completion of the sale, the chief executive officer now directly owns 9,049 shares in the company, valued at approximately $50,402.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregory A. Lang sold 27,639 shares of NovaGold Resources stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $5.32, for a total transaction of $147,039.48. Following the completion of the sale, the chief executive officer now owns 8,295 shares of the company’s stock, valued at $44,129.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,519 shares of company stock worth $516,522. 3.25% of the stock is owned by corporate insiders.

NovaGold Resources 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.

Further Reading

Institutional Ownership by Quarter for NovaGold Resources (NYSEAMERICAN:NG)

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