NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Free Report) (TSE:NG)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $3.10. NovaGold Resources shares last traded at $3.10, with a volume of 1,986,775 shares.
Analyst Upgrades and Downgrades
Separately, National Bank Financial reiterated an “outperform overweight” rating on shares of NovaGold Resources in a research note on Wednesday, January 3rd.
Read Our Latest Research Report on NovaGold Resources
NovaGold Resources Price Performance
NovaGold Resources (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) last issued its earnings results on Wednesday, January 24th. The mining company reported ($0.03) EPS for the quarter.
Hedge Funds Weigh In On NovaGold Resources
A number of hedge funds and other institutional investors have recently modified their holdings of NG. Norges Bank acquired a new stake in NovaGold Resources in the fourth quarter valued at approximately $12,493,000. Paulson & CO. Inc. raised its holdings in shares of NovaGold Resources by 5.9% in the fourth quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock worth $88,045,000 after buying an additional 1,315,183 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of NovaGold Resources by 495.0% in the fourth quarter. Alps Advisors Inc. now owns 1,164,387 shares of the mining company’s stock worth $6,963,000 after buying an additional 968,700 shares during the last quarter. Exor Capital LLP raised its holdings in shares of NovaGold Resources by 6.3% in the fourth quarter. Exor Capital LLP now owns 15,702,926 shares of the mining company’s stock worth $136,877,000 after buying an additional 926,148 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of NovaGold Resources by 10.8% in the third quarter. Van ECK Associates Corp now owns 9,209,665 shares of the mining company’s stock worth $35,365,000 after buying an additional 898,800 shares during the last quarter. 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.
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