NovaGold Resources (NYSEAMERICAN:NG) Hits New 12-Month Low – Time to Sell?

Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) reached a new 52-week low on Friday . The stock traded as low as $2.60 and last traded at $2.61, with a volume of 766242 shares. The stock had previously closed at $2.84.

Analyst Ratings Changes

Separately, National Bank Financial upgraded NovaGold Resources to a “hold” rating in a research report on Friday, March 21st.

NovaGold Resources Stock Performance

The firm has a market cap of $873.44 million, a price-to-earnings ratio of -20.08 and a beta of 1.05. The firm’s 50-day moving average is $3.15.

Institutional Investors Weigh In On NovaGold Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC lifted its position in shares of NovaGold Resources by 814.9% in the 4th quarter. Sterling Capital Management LLC now owns 7,813 shares of the mining company’s stock worth $26,000 after purchasing an additional 6,959 shares during the period. Squarepoint Ops LLC purchased a new stake in NovaGold Resources during the fourth quarter worth $35,000. Wolverine Trading LLC boosted its position in NovaGold Resources by 4,789.1% during the 4th quarter. Wolverine Trading LLC now owns 16,318 shares of the mining company’s stock valued at $53,000 after acquiring an additional 16,666 shares in the last quarter. AXQ Capital LP purchased a new position in shares of NovaGold Resources in the 4th quarter valued at $59,000. Finally, Jump Financial LLC bought a new position in shares of NovaGold Resources in the 4th quarter worth $67,000. 57.56% of the stock is owned by 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.