A number of other equities analysts also recently issued reports on NG. Zacks Investment Research downgraded shares of Novagold Resources from a hold rating to a sell rating in a report on Friday, July 1st. Royal Bank Of Canada reissued a sector perform rating on shares of Novagold Resources in a report on Wednesday, June 29th. Finally, JPMorgan Chase & Co. raised shares of Novagold Resources from a neutral rating to an overweight rating in a report on Tuesday, September 27th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $5.50.
Novagold Resources (NYSEMKT:NG) opened at 4.24 on Wednesday. The firm has a 50-day moving average of $5.39 and a 200-day moving average of $6.00. The stock’s market cap is $1.36 billion. Novagold Resources has a 1-year low of $3.05 and a 1-year high of $7.29.
Novagold Resources (NYSEMKT:NG) last announced its quarterly earnings results on Wednesday, October 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). Analysts expect that Novagold Resources will post ($0.09) EPS for the current fiscal year.
In other Novagold Resources news, Director Gillyeard J. Leathley sold 13,668 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $7.17, for a total transaction of $97,999.56. Following the sale, the director now owns 115,396 shares in the company, valued at approximately $827,389.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors boosted 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 valued at $236,000 after buying an additional 32,458 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Novagold Resources during the first quarter valued at $733,000. HBK Investments L P boosted its stake in shares of Novagold Resources by 566.5% in the first quarter. HBK Investments L P now owns 300,300 shares of the company’s stock valued at $1,514,000 after buying an additional 255,242 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Novagold Resources by 43.8% in the second quarter. Teacher Retirement System of Texas now owns 2,445,000 shares of the company’s stock valued at $14,963,000 after buying an additional 745,000 shares in the last quarter. Finally, Quantitative Investment Management LLC boosted its stake in shares of Novagold Resources by 48.5% in the second quarter. Quantitative Investment Management LLC now owns 175,200 shares of the company’s stock valued at $1,072,000 after buying an additional 57,200 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.
Receive News & Ratings for Novagold Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novagold Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.