Novagold Resources Inc. (NYSEAMERICAN:NG) Director Buys $41,000.00 in Stock

Novagold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG Director Hume D. Kyle bought 10,000 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average price of $4.10 per share, for a total transaction of $41,000.00. Following the transaction, the director owned 22,348 shares in the company, valued at $91,626.80. This trade represents a 80.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Novagold Resources Price Performance

Shares of NYSEAMERICAN NG traded up $0.04 during midday trading on Friday, reaching $4.52. The stock had a trading volume of 3,770,064 shares, compared to its average volume of 2,531,502. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -18.83 and a beta of 0.67. Novagold Resources Inc. has a 12-month low of $2.26 and a 12-month high of $5.06. The stock has a 50-day moving average of $4.01 and a 200-day moving average of $3.49. The company has a debt-to-equity ratio of 0.96, a quick ratio of 76.72 and a current ratio of 76.72.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. National Bank Financial raised shares of Novagold Resources to a "hold" rating in a research report on Friday, March 21st. Royal Bank Of Canada upgraded shares of Novagold Resources from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $5.00 to $7.00 in a report on Wednesday, June 4th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NG. Sterling Capital Management LLC grew its holdings in shares of Novagold Resources by 814.9% in the fourth quarter. Sterling Capital Management LLC now owns 7,813 shares of the mining company's stock valued at $26,000 after purchasing an additional 6,959 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of Novagold Resources in the 1st quarter worth about $29,000. Squarepoint Ops LLC purchased a new stake in shares of Novagold Resources during the 4th quarter valued at about $35,000. Dauntless Investment Group LLC purchased a new stake in shares of Novagold Resources during the 1st quarter valued at about $39,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Novagold Resources in the 1st quarter valued at about $44,000. Institutional investors own 57.56% of the company's stock.

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.