NovaGold Resources (NYSEAMERICAN:NG) Shares Gap Down to $3.10

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG)’s share price gapped down prior to trading on Monday . The stock had previously closed at $3.10, but opened at $2.98. NovaGold Resources shares last traded at $2.92, with a volume of 952,570 shares trading hands.

Analysts Set New Price Targets

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

NovaGold Resources Price Performance

The stock has a market cap of $979.70 million, a P/E ratio of -22.54 and a beta of 1.06. The company has a debt-to-equity ratio of 3,250.59, a quick ratio of 65.41 and a current ratio of 65.41.

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

Institutional Trading of NovaGold Resources

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of NovaGold Resources in the third quarter valued at approximately $345,000. Raymond James & Associates grew its stake in shares of NovaGold Resources by 21.9% during the 3rd quarter. Raymond James & Associates now owns 284,226 shares of the mining company’s stock worth $1,091,000 after purchasing an additional 50,996 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of NovaGold Resources by 41.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,769 shares of the mining company’s stock valued at $214,000 after purchasing an additional 16,440 shares in the last quarter. Dubuque Bank & Trust Co acquired a new stake in shares of NovaGold Resources in the third quarter valued at about $69,000. Finally, Cedar Wealth Management LLC purchased a new stake in NovaGold Resources during the third quarter worth about $291,000. Institutional investors and hedge funds own 57.56% 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.