Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) rose 4.1% on Thursday . The stock traded as high as $3.41 and last traded at $3.40. Approximately 463,647 shares were traded during trading, a decline of 78% from the average daily volume of 2,071,234 shares. The stock had previously closed at $3.26.
NovaGold Resources Trading Down 2.3 %
The company has a 50 day moving average price of $3.22. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -25.92 and a beta of 1.05.
Institutional Trading of NovaGold Resources
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp lifted its position in shares of NovaGold Resources by 2.8% during the 4th quarter. Mackenzie Financial Corp now owns 144,463 shares of the mining company’s stock worth $483,000 after buying an additional 3,871 shares in the last quarter. Wolverine Trading LLC raised its position in shares of NovaGold Resources by 4,789.1% in the fourth quarter. Wolverine Trading LLC now owns 16,318 shares of the mining company’s stock worth $53,000 after buying an additional 16,666 shares in the last quarter. Vident Advisory LLC raised its stake in NovaGold Resources by 6.7% in the fourth quarter. Vident Advisory LLC now owns 211,388 shares of the mining company’s stock valued at $704,000 after purchasing an additional 13,288 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in NovaGold Resources in the fourth quarter worth approximately $35,000. Finally, Two Sigma Investments LP increased its holdings in shares of NovaGold Resources by 74.8% in the fourth quarter. Two Sigma Investments LP now owns 317,029 shares of the mining company’s stock worth $1,056,000 after buying an additional 135,705 shares during the period. 57.56% of the stock is currently owned by institutional investors and hedge funds.
NovaGold Resources Company Profile
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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