National Bank Financial equity researchers have begun to cover the shares of NovaGold Resources (NYSEAMERICAN:NG – Get Valuation) (TSE:NG) in a report released Wednesday, reports The Fly. The brokerage has set an “outperform” rating for the shares of the mining company.
NovaGold Resources Stock Performance
NYSEAMERICAN NG opened at $4.54 on Wednesday. The company has a market capitalization of $1.51 billion, a P/E ratio of -37.83 and a beta of 0.65. NovaGold Resources has a 12-month low of $4.22 and a 12-month high of $8.36. The company has a debt ratio of 1.48, a current ratio of 38.66 and a quick ratio of 38.66.
NovaGold Resources Inc (NYSEAMERICAN:NG – Get Rating) (TSE:NG) last released quarterly earnings data on Wednesday, June 29. The mining company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimate of ($0.02) by ($0.02). Research analysts predict that NovaGold Resources will post an EPS of -0.09 for the current year.
NovaGold Institutional Resource Trading
Major investors have recently been buying and selling shares of the company. First Eagle Investment Management LLC increased its position in NovaGold Resources shares by 21.6% during the first quarter. First Eagle Investment Management LLC now owns 14,097,193 shares of the mining company worth $108,971,000 after purchasing an additional 2,504,904 shares last quarter. BlackRock Inc. increased its position in NovaGold Resources shares by 1.2% during the first quarter. BlackRock Inc. now owns 12,635,928 shares of the mining company worth $97,676,000 after buying an additional 155,685 shares last quarter. Exor Capital LLP increased its position in NovaGold Resources shares by 6.2% during the first quarter. Exor Capital LLP now owns 12,506,537 shares of the mining company worth $96,676,000 after purchasing an additional 735,617 shares last quarter. Van ECK Associates Corp increased its position in NovaGold Resources shares by 0.7% during the first quarter. Van ECK Associates Corp now owns 11,558,615 shares of the mining company worth $89,348,000 after buying an additional 75,909 shares last quarter. Finally, Vanguard Group Inc. increased its position in NovaGold Resources shares by 0.9% during the first quarter. Vanguard Group Inc. now owns 8,925,567 shares of the mining company worth $68,995,000 after purchasing an additional 83,985 shares in the last quarter. 52.50% of the shares are currently held by institutional investors and hedge funds.
Company Profile NovaGold Resources
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NovaGold Resources Inc explores and develops gold mining properties in the United States. Its main asset is the Donlin Gold project consisting of 493 mining claims covering an area of approximately 29,008 hectares located in the Kuskokwim region in southwest Alaska. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc in March 1987.
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