NovaGold Resources (NYSEAMERICAN:NG) Stock Passes Above 200-Day Moving Average of $0.00

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $3.10. NovaGold Resources shares last traded at $3.10, with a volume of 1,986,775 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial reissued an “outperform overweight” rating on shares of NovaGold Resources in a research report on Wednesday, January 3rd.

NovaGold Resources Trading Up 1.0 %

The company has a quick ratio of 65.41, a current ratio of 65.41 and a debt-to-equity ratio of 3,250.59. The firm has a market capitalization of $1.04 billion, a PE ratio of -23.85 and a beta of 1.06.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last announced its earnings results on Wednesday, January 24th. The mining company reported ($0.03) earnings per share for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of NovaGold Resources during the 4th quarter worth $12,493,000. Paulson & CO. Inc. boosted its holdings in shares of NovaGold Resources by 5.9% in the 4th quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock worth $88,045,000 after purchasing an additional 1,315,183 shares in the last quarter. Alps Advisors Inc. increased its position in shares of NovaGold Resources by 495.0% during the 4th quarter. Alps Advisors Inc. now owns 1,164,387 shares of the mining company’s stock valued at $6,963,000 after purchasing an additional 968,700 shares during the last quarter. Exor Capital LLP increased its position in shares of NovaGold Resources by 6.3% during the 4th quarter. Exor Capital LLP now owns 15,702,926 shares of the mining company’s stock valued at $136,877,000 after purchasing an additional 926,148 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of NovaGold Resources by 10.8% during the 3rd quarter. Van ECK Associates Corp now owns 9,209,665 shares of the mining company’s stock valued at $35,365,000 after buying an additional 898,800 shares in the last quarter. 57.56% of the stock is owned by institutional investors.

About NovaGold Resources

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.