StockNews.com Lowers NovaGold Resources (NYSEAMERICAN:NG) to Sell

StockNews.com lowered shares of NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) from a hold rating to a sell rating in a report released on Monday morning.

NovaGold Resources Trading Up 1.3 %

NovaGold Resources stock opened at $4.65 on Monday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -35.77 and a beta of 1.02. NovaGold Resources has a 52 week low of $2.22 and a 52 week high of $4.88.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last announced its quarterly earnings results on Wednesday, June 26th. The mining company reported ($0.04) EPS for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of NovaGold Resources by 1.9% in the third quarter. Vanguard Group Inc. now owns 9,823,289 shares of the mining company’s stock valued at $37,721,000 after buying an additional 178,772 shares during the period. SG Americas Securities LLC increased its position in NovaGold Resources by 28.4% in the 4th quarter. SG Americas Securities LLC now owns 115,430 shares of the mining company’s stock valued at $432,000 after buying an additional 25,523 shares in the last quarter. Raymond James & Associates raised its stake in NovaGold Resources by 27.9% during the 4th quarter. Raymond James & Associates now owns 363,587 shares of the mining company’s stock worth $1,360,000 after buying an additional 79,361 shares during the period. Oak Thistle LLC bought a new position in NovaGold Resources in the fourth quarter worth approximately $75,000. Finally, HTLF Bank acquired a new position in shares of NovaGold Resources during the fourth quarter worth approximately $67,000. 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.