Novagold Resources Inc. (NG) Releases Earnings Results, Hits Estimates
Novagold Resources Inc. (NYSEMKT:NG) released its quarterly earnings results on Tuesday. The company reported ($0.02) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02).
Shares of Novagold Resources (NYSEMKT:NG) opened at 4.86 on Wednesday. The company’s market cap is $1.55 billion. Novagold Resources has a 1-year low of $3.05 and a 1-year high of $7.29. The stock’s 50 day moving average is $5.63 and its 200 day moving average is $6.02.
Several analysts have issued reports on NG shares. Royal Bank Of Canada reissued a “sector perform” rating on shares of Novagold Resources in a research note on Wednesday, June 29th. Zacks Investment Research downgraded shares of Novagold Resources from a “hold” rating to a “sell” rating in a research note on Friday, July 1st. Finally, JPMorgan Chase & Co. raised shares of Novagold Resources from a “neutral” rating to an “overweight” rating in a research note on Tuesday, September 27th.
In other Novagold Resources news, Director Gillyeard J. Leathley sold 13,668 shares of the stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $7.17, for a total transaction of $97,999.56. Following the sale, the director now directly owns 115,396 shares in the company, valued at approximately $827,389.32. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Large investors have recently made changes to their positions in the stock. Eqis Capital Management Inc. purchased a new stake in shares of Novagold Resources during the second quarter worth $108,000. World Asset Management Inc increased its position in Novagold Resources by 7.9% in the second quarter. World Asset Management Inc now owns 19,857 shares of the company’s stock worth $122,000 after buying an additional 1,449 shares during the period. Creative Planning increased its position in Novagold Resources by 11.9% in the second quarter. Creative Planning now owns 20,017 shares of the company’s stock worth $123,000 after buying an additional 2,133 shares during the period. Legal & General Group Plc increased its position in Novagold Resources by 70.5% in the first quarter. Legal & General Group Plc now owns 27,323 shares of the company’s stock worth $139,000 after buying an additional 11,300 shares during the period. Finally, Commerzbank Aktiengesellschaft FI bought a new position in Novagold Resources during the second quarter worth approximately $142,000.
Novagold Resources Company Profile
Novagold Resources Inc is a mineral exploration company. The Company is engaged in the exploration and development of mineral properties. The Company’s segment is involved in the exploration and development of mineral properties. The Company is focused on advancing permitting of the Donlin Gold project in Alaska.
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