NovaGold Resources (NYSEAMERICAN:NG) Shares Gap Down to $3.31

NovaGold Resources Inc. (NYSEAMERICAN:NG - Get Free Report) TSE: NG's stock price gapped down prior to trading on Thursday . The stock had previously closed at $3.31, but opened at $3.19. NovaGold Resources shares last traded at $2.93, with a volume of 959,226 shares traded.

Analyst Upgrades and Downgrades

Separately, National Bank Financial reissued an "outperform overweight" rating on shares of NovaGold Resources in a research note on Wednesday, January 3rd.

NovaGold Resources Trading Down 7.9 %

The stock has a market capitalization of $1.02 billion, a P/E ratio of -23.46 and a beta of 1.06. The company has a quick ratio of 32.57, a current ratio of 32.57 and a debt-to-equity ratio of 3,250.59.

NovaGold Resources (NYSEAMERICAN:NG - Get Free Report) TSE: NG last posted its quarterly earnings data on Wednesday, January 24th. The mining company reported ($0.03) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its position in NovaGold Resources by 87.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,382 shares of the mining company's stock worth $29,000 after acquiring an additional 3,450 shares during the period. GTS Securities LLC acquired a new position in NovaGold Resources during the 4th quarter worth $39,000. Verition Fund Management LLC acquired a new position in NovaGold Resources during the 2nd quarter worth $55,000. HighTower Advisors LLC acquired a new position in NovaGold Resources during the 3rd quarter worth $57,000. Finally, HTLF Bank acquired a new position in NovaGold Resources during the 4th quarter worth $67,000. 57.56% of the stock is currently owned by institutional investors.

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.