Dawn Patricia Whittaker Purchases 4,000 Shares of Novagold Resources (NYSEAMERICAN:NG) Stock

Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) Director Dawn Patricia Whittaker acquired 4,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were purchased at an average price of $9.36 per share, with a total value of $37,440.00. Following the transaction, the director owned 4,000 shares in the company, valued at $37,440. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Novagold Resources Stock Performance

Shares of Novagold Resources stock traded up $0.85 on Friday, reaching $9.15. 3,576,909 shares of the stock were exchanged, compared to its average volume of 4,160,472. The firm has a market capitalization of $3.72 billion, a PE ratio of -36.62 and a beta of 0.82. Novagold Resources Inc. has a 1-year low of $2.26 and a 1-year high of $12.09. The business has a fifty day moving average price of $9.87 and a two-hundred day moving average price of $8.38. The company has a current ratio of 23.79, a quick ratio of 23.79 and a debt-to-equity ratio of 1.02.

Institutional Investors Weigh In On Novagold Resources

Large investors have recently bought and sold shares of the stock. Lingotto Investment Management LLP increased its stake in Novagold Resources by 60.7% during the 2nd quarter. Lingotto Investment Management LLP now owns 34,902,954 shares of the mining company’s stock worth $142,753,000 after buying an additional 13,180,065 shares during the period. Teacher Retirement System of Texas increased its position in shares of Novagold Resources by 518.9% during the second quarter. Teacher Retirement System of Texas now owns 4,770,816 shares of the mining company’s stock worth $19,513,000 after acquiring an additional 4,000,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Novagold Resources by 23.9% in the third quarter. Vanguard Group Inc. now owns 14,587,516 shares of the mining company’s stock valued at $128,840,000 after purchasing an additional 2,815,780 shares during the last quarter. UBS Group AG grew its stake in Novagold Resources by 21.9% during the 3rd quarter. UBS Group AG now owns 13,617,880 shares of the mining company’s stock valued at $119,837,000 after purchasing an additional 2,443,511 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Novagold Resources by 520.9% during the 2nd quarter. Bank of America Corp DE now owns 2,906,123 shares of the mining company’s stock worth $11,886,000 after purchasing an additional 2,438,052 shares during the last quarter. Institutional investors and hedge funds own 57.56% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Zacks Research downgraded Novagold Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. B. Riley upped their price target on shares of Novagold Resources from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Citigroup upped their target price on shares of Novagold Resources from $7.00 to $12.50 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. National Bank Financial raised shares of Novagold Resources from a “sector perform” rating to an “outperform” rating in a report on Wednesday, October 29th. Finally, BMO Capital Markets began coverage on Novagold Resources in a research note on Tuesday, November 4th. They set an “outperform” rating on the stock. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $10.83.

Novagold Resources Company Profile

Novagold Resources Inc is a mineral exploration and development company headquartered in Vancouver, British Columbia. The firm is focused on advancing large-scale precious metals projects through disciplined project management, environmental stewardship and community engagement. Novagold maintains a lean corporate structure while leveraging partnerships and industry expertise to advance its projects toward production.

The company’s flagship asset is the Donlin Gold project in Alaska, a 50/50 joint venture with Barrick Gold Corporation.