Novagold Resources Inc. (NYSEMKT:NG) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Tuesday.
Several other equities research analysts also recently commented on the company. Zacks Investment Research upgraded Novagold Resources from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Novagold Resources in a report on Wednesday, June 29th.
Shares of Novagold Resources (NYSEMKT:NG) traded up 1.64% during midday trading on Tuesday, hitting $5.58. 2,521,276 shares of the stock were exchanged. Novagold Resources has a 52-week low of $3.05 and a 52-week high of $7.29. The stock’s market cap is $1.79 billion. The firm’s 50 day moving average price is $5.79 and its 200-day moving average price is $6.01.
In other Novagold Resources news, Director Gillyeard J. Leathley sold 13,668 shares of the business’s stock in a transaction dated Wednesday, July 13th. The stock was 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 directly owns 115,396 shares in the company, valued at approximately $827,389.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Several hedge funds and other institutional investors have recently bought and sold shares of NG. IFP Advisors Inc boosted its position in Novagold Resources by 1.2% in the second quarter. IFP Advisors Inc now owns 42,000 shares of the company’s stock worth $257,000 after buying an additional 500 shares in the last quarter. World Asset Management Inc boosted its position in Novagold Resources by 7.9% in the second quarter. World Asset Management Inc now owns 19,857 shares of the company’s stock worth $122,000 after buying an additional 1,449 shares in the last quarter. Creative Planning boosted its position in Novagold Resources by 11.9% in the second quarter. Creative Planning now owns 20,017 shares of the company’s stock worth $123,000 after buying an additional 2,133 shares in the last quarter. LPL Financial LLC boosted its position in Novagold Resources by 10.9% in the first quarter. LPL Financial LLC now owns 25,500 shares of the company’s stock worth $135,000 after buying an additional 2,500 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in Novagold Resources by 2.4% in the second quarter. Brown Advisory Inc. now owns 120,263 shares of the company’s stock worth $736,000 after buying an additional 2,813 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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