NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Rating) (TSE:NG)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $4.22 and last traded at $4.24, with a volume of 39975 shares trading hands. The stock had previously closed at $4.43.
Wall Street Analysts Forecast Growth
Separately, National Bank Financial initiated coverage on NovaGold Resources in a report on Wednesday, July 20th. They issued an “outperform” rating for the company.
NovaGold Resources Trading Up 4.6 %
The company has a quick ratio of 38.66, a current ratio of 38.66 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $1.43 billion, a PE ratio of -35.66 and a beta of 0.65.
Institutional Investors Weigh In On NovaGold Resources
Several hedge funds and other institutional investors have recently made changes to their positions in NG. Alpha Cubed Investments LLC acquired a new stake in shares of NovaGold Resources during the 2nd quarter worth about $48,000. Verition Fund Management LLC purchased a new position in NovaGold Resources during the 2nd quarter worth approximately $55,000. St. Johns Investment Management Company LLC grew its stake in NovaGold Resources by 545.0% during the 1st quarter. St. Johns Investment Management Company LLC now owns 9,900 shares of the mining company’s stock worth $77,000 after buying an additional 8,365 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in NovaGold Resources during the 1st quarter worth approximately $78,000. Finally, Engineers Gate Manager LP purchased a new position in NovaGold Resources during the 1st quarter worth approximately $85,000. Institutional investors and hedge funds own 52.50% of the company’s stock.
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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