NovaGold Resources (NYSEAMERICAN:NG) Stock Price Down 2.6% – Here’s What Happened

Posted by Tech Dows on Jan 8th, 2025

Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) dropped 2.6% on Monday . The company traded as low as $3.29 and last traded at $3.32. Approximately 197,901 shares changed hands during trading, a decline of 77% from the average daily volume of 846,294 shares. The stock had previously closed at $3.41.

Analysts Set New Price Targets

Separately, Citigroup upgraded NovaGold Resources to a “strong-buy” rating in a report on Thursday, October 3rd.

Check Out Our Latest Report on NG

NovaGold Resources Trading Up 0.9 %

The firm has a market cap of $1.13 billion, a P/E ratio of -25.92 and a beta of 1.07.

Institutional Investors Weigh In On NovaGold Resources

Several large investors have recently made changes to their positions in the company. Northwest & Ethical Investments L.P. acquired a new stake in shares of NovaGold Resources in the third quarter worth about $31,000. AQR Capital Management LLC bought a new position in shares of NovaGold Resources in the 2nd quarter valued at approximately $49,000. Evoke Wealth LLC acquired a new stake in NovaGold Resources in the 2nd quarter worth approximately $66,000. Toronto Dominion Bank boosted its position in NovaGold Resources by 67.3% during the third quarter. Toronto Dominion Bank now owns 23,300 shares of the mining company’s stock worth $96,000 after purchasing an additional 9,377 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in NovaGold Resources during the third quarter valued at approximately $102,000. Institutional investors 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.