NovaGold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG was down 3.8% during trading on Tuesday . The company traded as low as $3.47 and last traded at $3.45. Approximately 649,719 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 2,204,086 shares. The stock had previously closed at $3.58.
Analyst Upgrades and Downgrades
Separately, National Bank Financial raised NovaGold Resources to a "hold" rating in a report on Friday, March 21st.
View Our Latest Report on NovaGold Resources
NovaGold Resources Stock Performance
The firm's 50 day simple moving average is $3.42 and its 200-day simple moving average is $3.44. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -27.31 and a beta of 1.05.
Institutional Trading of NovaGold Resources
Several institutional investors and hedge funds have recently bought and sold shares of NG. Barclays PLC increased its stake in NovaGold Resources by 4.9% during the fourth quarter. Barclays PLC now owns 962,552 shares of the mining company's stock worth $3,206,000 after purchasing an additional 44,717 shares during the period. Raymond James Financial Inc. acquired a new position in NovaGold Resources in the fourth quarter valued at approximately $1,952,000. Deutsche Bank AG boosted its holdings in NovaGold Resources by 46.0% in the fourth quarter. Deutsche Bank AG now owns 224,614 shares of the mining company's stock valued at $748,000 after purchasing an additional 70,780 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of NovaGold Resources by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 10,754,870 shares of the mining company's stock valued at $35,963,000 after acquiring an additional 169,209 shares during the period. Finally, XTX Topco Ltd boosted its holdings in shares of NovaGold Resources by 47.2% in the fourth quarter. XTX Topco Ltd now owns 61,848 shares of the mining company's stock valued at $206,000 after acquiring an additional 19,844 shares during the period. 57.56% of the stock is currently 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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