NovaGold Resources (NYSEAMERICAN:NG) Trading Down 3.7% – Should You Sell?

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG)’s stock price was down 3.7% during trading on Monday . The stock traded as low as $3.28 and last traded at $3.27. Approximately 1,277,393 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 1,580,152 shares. The stock had previously closed at $3.39.

NovaGold Resources Stock Down 3.8 %

The company has a market cap of $1.09 billion, a PE ratio of -25.08 and a beta of 1.05. The firm’s fifty day simple moving average is $3.23.

Institutional Investors Weigh In On NovaGold Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lingotto Investment Management LLP raised its position in shares of NovaGold Resources by 3.5% in the 4th quarter. Lingotto Investment Management LLP now owns 20,902,054 shares of the mining company’s stock valued at $69,604,000 after buying an additional 702,636 shares in the last quarter. Kopernik Global Investors LLC increased its stake in NovaGold Resources by 23.1% in the fourth quarter. Kopernik Global Investors LLC now owns 17,006,844 shares of the mining company’s stock valued at $56,633,000 after acquiring an additional 3,187,981 shares during the last quarter. Vanguard Group Inc. raised its position in NovaGold Resources by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 10,754,870 shares of the mining company’s stock valued at $35,963,000 after purchasing an additional 169,209 shares in the last quarter. State Street Corp lifted its stake in NovaGold Resources by 5.0% during the third quarter. State Street Corp now owns 4,321,172 shares of the mining company’s stock worth $17,717,000 after purchasing an additional 206,610 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of NovaGold Resources by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 3,067,144 shares of the mining company’s stock valued at $10,220,000 after purchasing an additional 20,218 shares in the last quarter. 57.56% of the stock is currently owned by institutional investors and hedge funds.

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.