NovaGold Resources Inc. (NG) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of NovaGold Resources Inc. (NYSEMKT:NG) (TSE:NG) from a hold rating to a sell rating in a research note published on Wednesday morning.

Separately, Zacks Investment Research cut shares of NovaGold Resources from a hold rating to a sell rating in a report on Tuesday, July 25th.

NovaGold Resources (NYSEMKT:NG) opened at 4.01 on Wednesday. The company’s market capitalization is $1.29 billion. NovaGold Resources has a one year low of $3.78 and a one year high of $6.66. The company has a 50-day moving average price of $4.45 and a 200-day moving average price of $4.69.

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In related news, Director Gillyeard J. Leathley sold 7,000 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $5.65, for a total transaction of $39,550.00. Following the sale, the director now owns 84,940 shares in the company, valued at approximately $479,911. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David A. Ottewell sold 43,224 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $4.65, for a total transaction of $200,991.60. Following the sale, the vice president now owns 788,540 shares in the company, valued at approximately $3,666,711. The disclosure for this sale can be found here.

Several hedge funds have recently bought and sold shares of the company. Oxford Asset Management purchased a new stake in NovaGold Resources during the first quarter valued at about $408,000. Levin Capital Strategies L.P. increased its position in shares of NovaGold Resources by 2.5% in the first quarter. Levin Capital Strategies L.P. now owns 608,180 shares of the mining company’s stock valued at $2,962,000 after buying an additional 15,000 shares during the last quarter. Legacy Capital Partners Inc. increased its position in shares of NovaGold Resources by 19.9% in the first quarter. Legacy Capital Partners Inc. now owns 31,300 shares of the mining company’s stock valued at $153,000 after buying an additional 5,200 shares during the last quarter. Quantitative Investment Management LLC increased its position in shares of NovaGold Resources by 2.0% in the first quarter. Quantitative Investment Management LLC now owns 200,000 shares of the mining company’s stock valued at $974,000 after buying an additional 3,900 shares during the last quarter. Finally, Parametric Portfolio Associates LLC bought a new position in shares of NovaGold Resources during the first quarter valued at approximately $326,000.

About NovaGold Resources

Novagold Resources Inc is a mineral exploration company. The Company is engaged in the exploration and development of mineral properties. The Company’s segments include the Donlin Gold project in Alaska, the United States and the Galore Creek project in British Columbia, Canada. The Company operates in the gold mining industry, primarily focused on advancing permitting of the Donlin Gold project in Alaska.

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