NovaGold Resources (NYSEAMERICAN:NG) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $3.01. NovaGold Resources shares last traded at $2.97, with a volume of 2,066,119 shares.

NovaGold Resources Stock Performance

The company has a market capitalization of $993.91 million, a price-to-earnings ratio of -22.85 and a beta of 1.05.

Institutional Trading of NovaGold Resources

Institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC increased its position in NovaGold Resources by 814.9% during the 4th quarter. Sterling Capital Management LLC now owns 7,813 shares of the mining company’s stock valued at $26,000 after purchasing an additional 6,959 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in shares of NovaGold Resources during the 3rd quarter valued at about $31,000. Squarepoint Ops LLC purchased a new position in shares of NovaGold Resources during the fourth quarter valued at about $35,000. Wolverine Trading LLC raised its stake in NovaGold Resources by 4,789.1% in the fourth quarter. Wolverine Trading LLC now owns 16,318 shares of the mining company’s stock worth $53,000 after buying an additional 16,666 shares in the last quarter. Finally, AXQ Capital LP bought a new position in NovaGold Resources in the fourth quarter worth about $59,000. 57.56% of the stock is currently 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.