Novagold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.45 and traded as high as $10.11. Novagold Resources shares last traded at $10.11, with a volume of 3,274,704 shares changing hands.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on NG. Citigroup increased their price objective on shares of Novagold Resources from $7.00 to $12.50 and gave the company a "buy" rating in a report on Wednesday, October 15th. B. Riley increased their price objective on shares of Novagold Resources from $9.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, September 30th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.17.
Get Our Latest Report on Novagold Resources
Novagold Resources Price Performance
The company has a quick ratio of 26.91, a current ratio of 26.91 and a debt-to-equity ratio of 0.92. The firm's 50 day simple moving average is $7.74 and its 200 day simple moving average is $5.45. The company has a market capitalization of $4.11 billion, a PE ratio of -40.44 and a beta of 0.77.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Cary Street Partners Financial LLC bought a new stake in shares of Novagold Resources during the first quarter worth $29,000. Shepherd Financial Partners LLC bought a new stake in shares of Novagold Resources during the second quarter worth $41,000. Quadrature Capital Ltd bought a new stake in shares of Novagold Resources during the second quarter worth $44,000. Abel Hall LLC bought a new stake in shares of Novagold Resources during the second quarter worth $47,000. Finally, CWM LLC lifted its position in shares of Novagold Resources by 20.3% during the second quarter. CWM LLC now owns 12,688 shares of the mining company's stock worth $52,000 after purchasing an additional 2,137 shares during the last quarter. 57.56% of the stock is owned by hedge funds and other institutional investors.
About Novagold Resources
(
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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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