NovaGold Resources (NYSEAMERICAN:NG) Trading Down 4.3% – Here’s Why

Posted by Shane Hupp on Jan 26th, 2025

NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) was down 4.3% during trading on Friday . The company traded as low as $3.05 and last traded at $3.02. Approximately 594,607 shares were traded during trading, a decline of 66% from the average daily volume of 1,737,455 shares. The stock had previously closed at $3.15.

Analyst Ratings Changes

Separately, Citigroup raised NovaGold Resources to a “strong-buy” rating in a report on Thursday, October 3rd.

Get Our Latest Report on NG

NovaGold Resources Stock Down 4.8 %

The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -23.08 and a beta of 1.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Northwest & Ethical Investments L.P. acquired a new position in shares of NovaGold Resources during the 3rd quarter worth $31,000. AQR Capital Management LLC bought a new position in NovaGold Resources during the second quarter valued at about $49,000. Toronto Dominion Bank lifted its position in shares of NovaGold Resources by 67.3% in the third quarter. Toronto Dominion Bank now owns 23,300 shares of the mining company’s stock worth $96,000 after buying an additional 9,377 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of NovaGold Resources during the 3rd quarter valued at about $102,000. Finally, Point72 Asset Management L.P. bought a new position in shares of NovaGold Resources in the 3rd quarter valued at approximately $121,000. Hedge funds and other institutional investors own 57.56% of the company’s stock.

NovaGold Resources Company Profile

(Get Free Report)

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.