NovaGold Resources (NYSEAMERICAN:NG) Shares Gap Up to $2.57

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $2.57, but opened at $2.70. NovaGold Resources shares last traded at $2.66, with a volume of 237,318 shares.

Wall Street Analysts Forecast Growth

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

NovaGold Resources Price Performance

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

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

Institutional Trading of NovaGold Resources

Large investors have recently made changes to their positions in the company. FMR LLC increased its stake in NovaGold Resources by 0.9% in the third quarter. FMR LLC now owns 24,320,736 shares of the mining company’s stock valued at $93,111,000 after purchasing an additional 226,211 shares during the last quarter. Paulson & CO. Inc. increased its stake in NovaGold Resources by 5.9% in the fourth quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock valued at $88,045,000 after purchasing an additional 1,315,183 shares during the last quarter. First Eagle Investment Management LLC increased its stake in NovaGold Resources by 0.4% in the third quarter. First Eagle Investment Management LLC now owns 18,738,379 shares of the mining company’s stock valued at $71,955,000 after purchasing an additional 72,093 shares during the last quarter. Exor Capital LLP increased its stake in NovaGold Resources by 6.3% in the fourth quarter. Exor Capital LLP now owns 15,702,926 shares of the mining company’s stock valued at $136,877,000 after purchasing an additional 926,148 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of NovaGold Resources by 6.1% in the second quarter. BlackRock Inc. now owns 14,181,262 shares of the mining company’s stock valued at $56,583,000 after acquiring an additional 820,315 shares during the period. 57.56% of the stock is currently owned by hedge funds and other institutional investors.

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.