NovaGold Resources (NYSEAMERICAN:NG) Upgraded by StockNews.com to “Hold”

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Separately, National Bank Financial cut their price target on shares of NovaGold Resources from C$10.75 to C$9.50 in a report on Friday, July 21st.

NovaGold Resources Stock Up 1.5 %

NovaGold Resources stock opened at $4.18 on Tuesday. The firm has a 50 day moving average price of $5.58. The company has a debt-to-equity ratio of 14.75, a quick ratio of 40.75 and a current ratio of 40.75. NovaGold Resources has a 12 month low of $3.84 and a 12 month high of $6.98. The firm has a market cap of $1.40 billion, a PE ratio of -26.13 and a beta of 0.81.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last announced its quarterly earnings results on Tuesday, June 27th. The mining company reported ($0.04) earnings per share (EPS) for the quarter. On average, analysts expect that NovaGold Resources will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James & Associates raised its holdings in NovaGold Resources by 7.3% in the fourth quarter. Raymond James & Associates now owns 131,476 shares of the mining company’s stock worth $786,000 after purchasing an additional 8,928 shares during the period. Goehring & Rozencwajg Associates LLC lifted its holdings in NovaGold Resources by 4.5% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 221,803 shares of the mining company’s stock worth $1,380,000 after acquiring an additional 9,620 shares in the last quarter. Martingale Asset Management L P grew its stake in NovaGold Resources by 2.2% in the fourth quarter. Martingale Asset Management L P now owns 258,169 shares of the mining company’s stock valued at $1,544,000 after acquiring an additional 5,469 shares during the period. Robertson Stephens Wealth Management LLC increased its holdings in shares of NovaGold Resources by 24.9% in the first quarter. Robertson Stephens Wealth Management LLC now owns 144,053 shares of the mining company’s stock worth $896,000 after acquiring an additional 28,673 shares in the last quarter. Finally, Kopernik Global Investors LLC raised its position in shares of NovaGold Resources by 28.6% during the fourth quarter. Kopernik Global Investors LLC now owns 8,754,173 shares of the mining company’s stock worth $52,350,000 after purchasing an additional 1,944,885 shares during the period. 53.84% of the stock is currently owned by institutional investors.

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.