NovaGold Resources (NYSEAMERICAN:NG) Stock Passes Above 200-Day Moving Average of $0.00

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG)’s stock price crossed 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 trading hands.

Analyst Upgrades and Downgrades

Separately, National Bank Financial restated an “outperform overweight” rating on shares of NovaGold Resources in a report on Wednesday, January 3rd.

NovaGold Resources Stock Performance

The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -23.85 and a beta of 1.06. The company has a current ratio of 65.41, a quick ratio of 65.41 and a debt-to-equity ratio of 3,250.59.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last issued its quarterly earnings results on Wednesday, January 24th. The mining company reported ($0.03) earnings per share for the quarter.

Institutional Investors Weigh In On NovaGold Resources

Several institutional investors and hedge funds have recently modified their holdings of NG. JPMorgan Chase & Co. increased its stake in shares of NovaGold Resources by 47.1% in the first quarter. JPMorgan Chase & Co. now owns 1,148,564 shares of the mining company’s stock worth $8,878,000 after purchasing an additional 367,773 shares during the period. Raymond James & Associates grew its holdings in NovaGold Resources by 19.9% in the 1st quarter. Raymond James & Associates now owns 87,901 shares of the mining company’s stock valued at $679,000 after buying an additional 14,573 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in NovaGold Resources in the 1st quarter worth approximately $78,000. Bank of New York Mellon Corp lifted its holdings in shares of NovaGold Resources by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 656,705 shares of the mining company’s stock worth $5,076,000 after buying an additional 8,220 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of NovaGold Resources by 37.5% during the first quarter. MetLife Investment Management LLC now owns 112,267 shares of the mining company’s stock worth $868,000 after buying an additional 30,641 shares during the last quarter. Institutional investors and hedge funds 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.