NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Free Report) (TSE:NG)’s share price traded down 4.3% during mid-day trading on Friday . The stock traded as low as $3.05 and last traded at $3.02. 594,607 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 1,737,455 shares. The stock had previously closed at $3.15.
Wall Street Analysts Forecast Growth
Separately, Citigroup raised NovaGold Resources to a “strong-buy” rating in a research note on Thursday, October 3rd.
NovaGold Resources Price Performance
Institutional Investors Weigh In On NovaGold Resources
Several institutional investors have recently added to or reduced their stakes in the business. Northwest & Ethical Investments L.P. purchased a new position in shares of NovaGold Resources during the third quarter worth about $31,000. AQR Capital Management LLC purchased a new position in NovaGold Resources in the 2nd quarter worth approximately $49,000. Toronto Dominion Bank grew its stake in 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 buying an additional 9,377 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of NovaGold Resources during the 3rd quarter valued at $102,000. Finally, Point72 Asset Management L.P. purchased a new position in NovaGold Resources in the third quarter worth $121,000. 57.56% of the stock is 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.
Recommended Stories
- Five stocks we like better than NovaGold Resources
- How to Short a Stock in 5 Easy Steps
- Why Energy Transfer Stock Could Soar to New Highs in 2025
- ETF Screener: Uses and Step-by-Step Guide
- 3 Buy-and-Hold Stocks for Long-Term Growth
- ESG Stocks, What Investors Should Know
- Despite Short-Term Risks Freeport McMoran Worth a Look
Receive News & Ratings for NovaGold Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NovaGold Resources and related companies with MarketBeat.com's FREE daily email newsletter.
