Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) gapped down prior to trading on Monday . The stock had previously closed at $3.10, but opened at $2.98. NovaGold Resources shares last traded at $2.92, with a volume of 952,570 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, National Bank Financial reiterated an “outperform overweight” rating on shares of NovaGold Resources in a research report on Wednesday, January 3rd.
Check Out Our Latest Research Report on NG
NovaGold Resources Trading Up 4.3 %
NovaGold Resources (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) last posted its earnings results on Wednesday, January 24th. The mining company reported ($0.03) earnings per share (EPS) for the quarter.
Institutional Investors Weigh In On NovaGold Resources
Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in NovaGold Resources during the 3rd quarter valued at about $345,000. Raymond James & Associates increased its stake in shares of NovaGold Resources by 21.9% during the third quarter. Raymond James & Associates now owns 284,226 shares of the mining company’s stock valued at $1,091,000 after acquiring an additional 50,996 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in NovaGold Resources by 41.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,769 shares of the mining company’s stock worth $214,000 after purchasing an additional 16,440 shares in the last quarter. Dubuque Bank & Trust Co bought a new position in NovaGold Resources during the 3rd quarter valued at $69,000. Finally, Cedar Wealth Management LLC acquired a new position in shares of NovaGold Resources during the 3rd quarter valued at $291,000. Institutional investors and hedge funds own 57.56% of the company’s stock.
About NovaGold Resources
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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