NovaGold Resources (NYSEAMERICAN:NG) Shares Gap Up to $3.00

NovaGold Resources Inc. (NYSEAMERICAN:NGGet Free Report) (TSE:NG) shares gapped up prior to trading on Monday . The stock had previously closed at $3.00, but opened at $3.14. NovaGold Resources shares last traded at $3.10, with a volume of 555,793 shares changing hands.

Analyst Ratings Changes

Separately, National Bank Financial reissued an “outperform overweight” rating on shares of NovaGold Resources in a research note on Wednesday, January 3rd.

Read Our Latest Research Report on NG

NovaGold Resources Stock Performance

The company has a debt-to-equity ratio of 3,250.59, a current ratio of 32.57 and a quick ratio of 32.57.

NovaGold Resources (NYSEAMERICAN:NGGet Free Report) (TSE:NG) last released its quarterly earnings results on Wednesday, January 24th. The mining company reported ($0.03) earnings per share (EPS) for the quarter.

Institutional Trading of NovaGold Resources

A number of hedge funds and other institutional investors have recently modified their holdings of NG. JPMorgan Chase & Co. increased its position in shares of NovaGold Resources by 47.1% in the first quarter. JPMorgan Chase & Co. now owns 1,148,564 shares of the mining company’s stock valued at $8,878,000 after acquiring an additional 367,773 shares during the last quarter. Raymond James & Associates increased its position in NovaGold Resources by 19.9% during the first quarter. Raymond James & Associates now owns 87,901 shares of the mining company’s stock worth $679,000 after buying an additional 14,573 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in NovaGold Resources during the first quarter worth approximately $78,000. Bank of New York Mellon Corp increased its position in NovaGold Resources by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 656,705 shares of the mining company’s stock worth $5,076,000 after buying an additional 8,220 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in NovaGold Resources by 37.5% during the first quarter. MetLife Investment Management LLC now owns 112,267 shares of the mining company’s stock worth $868,000 after buying an additional 30,641 shares during the last quarter. Institutional investors and hedge funds own 57.56% of the company’s stock.

NovaGold Resources Company Profile

(Get Free Report)

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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