Novagold Resources Inc. (NYSEMKT:NG) released its earnings results on Tuesday. The company reported ($0.02) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02).
Novagold Resources (NYSEMKT:NG) traded down 12.27% during mid-day trading on Tuesday, hitting $4.86. 4,439,829 shares of the stock traded hands. The firm’s market cap is $1.55 billion. Novagold Resources has a 52 week low of $3.05 and a 52 week high of $7.29. The firm’s 50-day moving average price is $5.63 and its 200-day moving average price is $6.02.
Several research analysts recently issued reports on NG shares. JPMorgan Chase & Co. raised shares of Novagold Resources from a “neutral” rating to an “overweight” rating in a research report on Tuesday, September 27th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Novagold Resources in a research report on Wednesday, June 29th. Finally, Zacks Investment Research lowered shares of Novagold Resources from a “hold” rating to a “sell” rating in a research report on Friday, July 1st.
In related news, Director Gillyeard J. Leathley sold 13,668 shares of Novagold Resources stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $7.17, for a total transaction of $97,999.56. Following the completion of the sale, the director now owns 115,396 shares of the company’s stock, valued at approximately $827,389.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Several hedge funds have recently made changes to their positions in NG. Acadian Asset Management LLC bought a new stake in shares of Novagold Resources during the first quarter valued at approximately $733,000. Aperio Group LLC increased its stake in Novagold Resources by 202.2% in the first quarter. Aperio Group LLC now owns 151,067 shares of the company’s stock worth $761,000 after buying an additional 101,082 shares in the last quarter. BlackRock Fund Advisors increased its stake in Novagold Resources by 225.1% in the first quarter. BlackRock Fund Advisors now owns 46,875 shares of the company’s stock worth $236,000 after buying an additional 32,458 shares in the last quarter. Royce & Associates LP acquired a new stake in Novagold Resources during the first quarter worth about $252,000. Finally, HBK Investments L P increased its stake in Novagold Resources by 566.5% in the first quarter. HBK Investments L P now owns 300,300 shares of the company’s stock worth $1,514,000 after buying an additional 255,242 shares in the last quarter.
About Novagold Resources
Novagold Resources Inc is a mineral exploration company. The Company is engaged in the exploration and development of mineral properties. The Company’s segment is involved in the exploration and development of mineral properties. The Company is focused on advancing permitting of the Donlin Gold project in Alaska.
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