Novagold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG's share price traded down 5% during trading on Friday . The stock traded as low as $4.13 and last traded at $4.14. 1,329,512 shares traded hands during trading, a decline of 64% from the average session volume of 3,665,549 shares. The stock had previously closed at $4.36.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada upgraded shares of Novagold Resources from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $5.00 to $7.00 in a research report on Wednesday, June 4th. National Bank Financial upgraded shares of Novagold Resources to a "hold" rating in a research note on Friday, March 21st.
Check Out Our Latest Report on Novagold Resources
Novagold Resources Stock Performance
The company has a market cap of $1.66 billion, a price-to-earnings ratio of -31.38 and a beta of 0.63. The company has a 50-day simple moving average of $3.90 and a 200-day simple moving average of $3.47.
Institutional Investors Weigh In On Novagold Resources
Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC increased its holdings in Novagold Resources by 4.9% during the 4th quarter. Barclays PLC now owns 962,552 shares of the mining company's stock valued at $3,206,000 after acquiring an additional 44,717 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Novagold Resources in the fourth quarter valued at approximately $1,952,000. Rhumbline Advisers increased its stake in shares of Novagold Resources by 2.6% during the 1st quarter. Rhumbline Advisers now owns 389,429 shares of the mining company's stock worth $1,137,000 after purchasing an additional 9,797 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Novagold Resources by 46.0% during the 4th quarter. Deutsche Bank AG now owns 224,614 shares of the mining company's stock worth $748,000 after purchasing an additional 70,780 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of Novagold Resources during the 4th quarter worth approximately $73,000. Institutional investors and hedge funds own 57.56% of the company's stock.
About Novagold Resources
(
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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