Shares of Novagold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG reached a new 52-week high during trading on Tuesday . The stock traded as high as $5.91 and last traded at $5.85, with a volume of 4298184 shares traded. The stock had previously closed at $5.39.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Novagold Resources in a research note on Wednesday, July 16th. They set a "buy" rating and a $7.00 price target on the stock. Royal Bank Of Canada raised shares of Novagold Resources from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $5.00 to $7.00 in a research note on Wednesday, June 4th.
Read Our Latest Stock Report on NG
Novagold Resources Stock Down 4.2%
The firm has a market capitalization of $2.18 billion, a P/E ratio of -22.35 and a beta of 0.67. The company has a debt-to-equity ratio of 0.96, a quick ratio of 76.72 and a current ratio of 76.72. The business's fifty day moving average price is $4.36 and its two-hundred day moving average price is $3.64.
Insider Buying and Selling
In other Novagold Resources news, Director Hume D. Kyle purchased 10,000 shares of Novagold Resources stock in a transaction on Monday, June 30th. The stock was bought at an average cost of $4.10 per share, with a total value of $41,000.00. Following the transaction, the director owned 22,348 shares of the company's stock, valued at $91,626.80. This represents a 80.98% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.88% of the stock is owned by company insiders.
Hedge Funds Weigh In On Novagold Resources
Several institutional investors have recently made changes to their positions in the company. Robertson Stephens Wealth Management LLC increased its holdings in shares of Novagold Resources by 0.7% during the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 289,101 shares of the mining company's stock valued at $1,182,000 after purchasing an additional 1,868 shares in the last quarter. Abel Hall LLC purchased a new position in shares of Novagold Resources during the 2nd quarter valued at approximately $47,000. Nova R Wealth Inc. acquired a new stake in Novagold Resources in the 2nd quarter valued at $160,000. Ruffer LLP acquired a new stake in Novagold Resources in the 2nd quarter valued at $1,733,000. Finally, Public Employees Retirement System of Ohio grew its stake in Novagold Resources by 13.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 72,225 shares of the mining company's stock valued at $296,000 after acquiring an additional 8,467 shares during the period. 57.56% of the stock is owned by hedge funds and other institutional investors.
Novagold Resources Company Profile
(
Get Free Report)
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.
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