NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) traded up 6.6% on Thursday . The company traded as high as $6.67 and last traded at $6.66, 2,965,900 shares traded hands during mid-day trading. An increase of 42% from the average session volume of 2,083,247 shares. The stock had previously closed at $6.25.
A number of equities research analysts have weighed in on the stock. B. Riley set a $9.00 price target on shares of NovaGold Resources and gave the company a “buy” rating in a report on Friday, August 23rd. Zacks Investment Research downgraded shares of NovaGold Resources from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th.
NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last released its quarterly earnings data on Tuesday, October 1st. The mining company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02).
Institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of NovaGold Resources in the second quarter valued at approximately $63,913,000. Vanguard Group Inc. raised its stake in shares of NovaGold Resources by 16.9% in the second quarter. Vanguard Group Inc. now owns 7,017,220 shares of the mining company’s stock valued at $41,471,000 after purchasing an additional 1,016,752 shares in the last quarter. Morgan Stanley raised its stake in shares of NovaGold Resources by 21.4% in the second quarter. Morgan Stanley now owns 4,103,529 shares of the mining company’s stock valued at $24,252,000 after purchasing an additional 724,307 shares in the last quarter. Exor Investments UK LLP raised its stake in shares of NovaGold Resources by 11.6% in the second quarter. Exor Investments UK LLP now owns 6,573,905 shares of the mining company’s stock valued at $38,852,000 after purchasing an additional 684,000 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of NovaGold Resources by 4.8% in the second quarter. Van ECK Associates Corp now owns 14,135,817 shares of the mining company’s stock valued at $83,543,000 after purchasing an additional 645,308 shares in the last quarter.
NovaGold Resources Company Profile (NYSEAMERICAN:NG)
NovaGold Resources Inc primarily explores for and develops gold mineral properties in Canada and the United States. Its principal asset is the Donlin Gold property covering an area of 71,420 acres 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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