NovaGold Resources (NYSEAMERICAN:NG) Trading Down 3.8% – Time to Sell?

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG)’s share price traded down 3.8% on Tuesday . The company traded as low as $3.47 and last traded at $3.45. 649,719 shares were traded during mid-day trading, a decline of 71% from the average session volume of 2,204,086 shares. The stock had previously closed at $3.58.

Wall Street Analyst Weigh In

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

NovaGold Resources Trading Down 2.1%

The company has a fifty day moving average price of $3.41 and a two-hundred day moving average price of $3.45. The firm has a market cap of $1.17 billion, a P/E ratio of -26.96 and a beta of 1.05.

Institutional Investors Weigh In On NovaGold Resources

Several institutional investors have recently bought and sold shares of NG. Goldman Sachs Group Inc. increased its stake in NovaGold Resources by 13.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,766,867 shares of the mining company’s stock valued at $5,159,000 after buying an additional 210,631 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of NovaGold Resources in the 1st quarter valued at about $157,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NovaGold Resources by 1.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 289,715 shares of the mining company’s stock valued at $846,000 after acquiring an additional 4,896 shares during the last quarter. AQR Capital Management LLC raised its holdings in NovaGold Resources by 103.9% during the first quarter. AQR Capital Management LLC now owns 43,740 shares of the mining company’s stock worth $128,000 after acquiring an additional 22,289 shares in the last quarter. Finally, Amundi raised its holdings in NovaGold Resources by 15.6% during the first quarter. Amundi now owns 2,790,399 shares of the mining company’s stock worth $7,925,000 after acquiring an additional 375,697 shares in the last quarter. Institutional investors own 57.56% of the company’s stock.

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.