NovaGold Resources (NYSEAMERICAN:NG) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $3.39. NovaGold Resources shares last traded at $3.33, with a volume of 3,322,803 shares changing hands.

NovaGold Resources Trading Down 4.8 %

The firm has a market cap of $1.06 billion, a PE ratio of -24.38 and a beta of 1.05.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Northwest & Ethical Investments L.P. acquired a new stake in shares of NovaGold Resources in the 3rd quarter worth about $31,000. AQR Capital Management LLC acquired a new stake in shares of NovaGold Resources in the 2nd quarter worth about $49,000. Toronto Dominion Bank increased its holdings in shares of NovaGold Resources by 67.3% in the 3rd quarter. Toronto Dominion Bank now owns 23,300 shares of the mining company’s stock worth $96,000 after acquiring an additional 9,377 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of NovaGold Resources in the 3rd quarter worth about $102,000. Finally, Point72 Asset Management L.P. acquired a new position in NovaGold Resources during the 3rd quarter valued at about $121,000. 57.56% of the stock is currently owned by institutional investors.

About NovaGold Resources

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.