NovaGold Resources (NYSEAMERICAN:NG) Trading Down 4.3% - Should You Sell?

NovaGold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG's stock price fell 4.3% on Thursday . The stock traded as low as $4.45 and last traded at $4.49. 4,310,106 shares were traded during mid-day trading, an increase of 84% from the average session volume of 2,338,790 shares. The stock had previously closed at $4.69.

Wall Street Analyst Weigh In

Several analysts have recently commented on NG shares. National Bank Financial raised NovaGold Resources to a "hold" rating in a research note on Friday, March 21st. Royal Bank of Canada raised NovaGold Resources from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $5.00 to $7.00 in a research report on Wednesday.

NovaGold Resources Price Performance

The company has a market capitalization of $1.41 billion, a P/E ratio of -32.38 and a beta of 1.05. The firm has a fifty day moving average price of $3.55 and a 200-day moving average price of $3.46.

Institutional Investors Weigh In On NovaGold Resources

Several large investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of NovaGold Resources by 19.9% during the 3rd quarter. Barclays PLC now owns 917,835 shares of the mining company's stock worth $3,762,000 after acquiring an additional 152,164 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its holdings in shares of NovaGold Resources by 2.1% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 270,546 shares of the mining company's stock worth $901,000 after purchasing an additional 5,546 shares in the last quarter. Goehring & Rozencwajg Associates LLC increased its position in shares of NovaGold Resources by 5.6% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 371,128 shares of the mining company's stock valued at $1,228,000 after purchasing an additional 19,712 shares during the last quarter. Keating Investment Counselors Inc. raised its holdings in shares of NovaGold Resources by 281.3% during the 4th quarter. Keating Investment Counselors Inc. now owns 61,000 shares of the mining company's stock valued at $203,000 after buying an additional 45,000 shares in the last quarter. Finally, Lingotto Investment Management LLP lifted its position in NovaGold Resources by 3.5% in the 4th quarter. Lingotto Investment Management LLP now owns 20,902,054 shares of the mining company's stock worth $69,604,000 after buying an additional 702,636 shares during the last quarter. Institutional investors own 57.56% of the company's stock.

NovaGold Resources Company Profile

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.