NovaGold Resources (NYSEAMERICAN:NG – Get Rating) (TSE:NG) had its price objective lifted by equities researchers at National Bank Financial from C$10.00 to C$11.00 in a report released on Friday, The Fly reports.
Separately, B. Riley dropped their price objective on NovaGold Resources from $28.00 to $10.00 in a report on Tuesday, October 25th.
NovaGold Resources Trading Up 0.1 %
Shares of NYSEAMERICAN:NG opened at $6.80 on Friday. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -45.33 and a beta of 0.74. NovaGold Resources has a 52-week low of $4.06 and a 52-week high of $8.36. The business has a 50-day moving average price of $5.46 and a 200-day moving average price of $5.62. The company has a quick ratio of 45.43, a current ratio of 45.44 and a debt-to-equity ratio of 2.96.
Insider Buying and Selling
Institutional Investors Weigh In On NovaGold Resources
A number of institutional investors have recently modified their holdings of NG. JPMorgan Chase & Co. grew its stake in shares of 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 buying an additional 367,773 shares in the last quarter. Raymond James & Associates grew its stake in shares of 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 buying an additional 14,573 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of NovaGold Resources in the first quarter valued at $78,000. Bank of New York Mellon Corp grew its stake in shares of 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 buying an additional 8,220 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of 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 buying an additional 30,641 shares in the last quarter. 53.92% of the stock is owned by institutional investors and hedge funds.
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.
- Get a free copy of the StockNews.com research report on NovaGold Resources (NG)
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