NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) shares were down 2.2% during mid-day trading on Friday . The stock traded as low as $3.34 and last traded at $3.38. Approximately 1,160,719 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 2,095,837 shares. The stock had previously closed at $3.45.
NovaGold Resources Stock Performance
The firm has a market cap of $1.13 billion, a P/E ratio of -25.92 and a beta of 1.05. The business has a 50-day simple moving average of $3.22.
Institutional Investors Weigh In On NovaGold Resources
Large investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its position in shares of NovaGold Resources by 814.9% in the 4th quarter. Sterling Capital Management LLC now owns 7,813 shares of the mining company’s stock worth $26,000 after buying an additional 6,959 shares during the last quarter. Northwest & Ethical Investments L.P. bought a new stake in NovaGold Resources in the third quarter valued at $31,000. Squarepoint Ops LLC bought a new stake in NovaGold Resources in the fourth quarter valued at $35,000. Wolverine Trading LLC increased its position in NovaGold Resources by 4,789.1% during the 4th quarter. Wolverine Trading LLC now owns 16,318 shares of the mining company’s stock valued at $53,000 after purchasing an additional 16,666 shares during the period. Finally, AXQ Capital LP bought a new position in NovaGold Resources in the 4th quarter worth $59,000. 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.
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