NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Rating) (TSE:NG)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $4.41. NovaGold Resources shares last traded at $4.30, with a volume of 1,673,916 shares trading hands.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on NG. National Bank Financial began coverage on shares of NovaGold Resources in a report on Wednesday, July 20th. They set an "outperform" rating for the company. National Bankshares set a C$9.00 price target on shares of NovaGold Resources and gave the company an "outperform" rating in a research report on Wednesday, July 20th.
Get NovaGold Resources alerts:NovaGold Resources Stock Performance
The firm has a 50 day simple moving average of $5.44. The firm has a market cap of $1.43 billion, a P/E ratio of -30.71 and a beta of 0.81. The company has a debt-to-equity ratio of 2.14, a quick ratio of 51.94 and a current ratio of 51.94.
NovaGold Resources (NYSEAMERICAN:NG – Get Rating) (TSE:NG) last posted its quarterly earnings data on Wednesday, June 29th. The mining company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, equities research analysts forecast that NovaGold Resources Inc. will post -0.12 EPS for the current fiscal year.Hedge Funds Weigh In On NovaGold Resources
Hedge funds have recently modified their holdings of the stock. Qube Research & Technologies Ltd acquired a new position in shares of NovaGold Resources in the 4th quarter valued at $550,000. Gotham Asset Management LLC bought a new stake in NovaGold Resources during the 4th quarter worth approximately $93,000. Bridgewater Associates LP bought a new stake in NovaGold Resources during the 4th quarter worth approximately $88,000. PDT Partners LLC acquired a new position in NovaGold Resources during the 4th quarter worth approximately $436,000. Finally, CIBC World Markets Inc. boosted its position in NovaGold Resources by 15.1% during the 4th quarter. CIBC World Markets Inc. now owns 97,982 shares of the mining company's stock worth $672,000 after acquiring an additional 12,843 shares during the last quarter. 52.06% of the stock is owned by institutional investors and hedge funds.
About NovaGold Resources
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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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