NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 13,440,714 shares, a growth of 7.0% from the January 12th total of 12,561,550 shares. Based on an average trading volume of 2,236,279 shares, the days-to-cover ratio is presently 6.0 days. Approximately 5.8% of the company’s shares are sold short.

Several research analysts have weighed in on the stock. B. Riley assumed coverage on shares of NovaGold Resources in a research note on Tuesday, December 19th. They issued a “buy” rating and a $7.00 price objective on the stock. Zacks Investment Research upgraded shares of NovaGold Resources from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Tuesday. Finally, BidaskClub upgraded shares of NovaGold Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th.

In other NovaGold Resources news, VP David Deisley sold 16,642 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $3.86, for a total value of $64,238.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nieuwenhuyse Rick Van sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $3.94, for a total transaction of $591,000.00. The disclosure for this sale can be found here. Insiders have sold 183,310 shares of company stock worth $719,246 in the last 90 days.

Several institutional investors and hedge funds have recently made changes to their positions in NG. Raymond James Financial Services Advisors Inc. increased its stake in shares of NovaGold Resources by 1.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 22,705 shares of the mining company’s stock worth $104,000 after purchasing an additional 300 shares during the last quarter. Virtu Financial LLC increased its stake in shares of NovaGold Resources by 448.8% during the 3rd quarter. Virtu Financial LLC now owns 145,461 shares of the mining company’s stock worth $154,000 after purchasing an additional 118,958 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of NovaGold Resources during the 2nd quarter worth $168,000. Legal & General Group Plc increased its stake in shares of NovaGold Resources by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 37,607 shares of the mining company’s stock worth $170,000 after purchasing an additional 1,584 shares during the last quarter. Finally, Virtu KCG Holdings LLC increased its stake in shares of NovaGold Resources by 82.6% during the 2nd quarter. Virtu KCG Holdings LLC now owns 38,577 shares of the mining company’s stock worth $176,000 after purchasing an additional 17,451 shares during the last quarter.

Shares of NovaGold Resources (NYSEAMERICAN:NG) traded down $0.09 on Friday, hitting $3.60. 3,059,502 shares of the stock traded hands, compared to its average volume of 1,909,886. NovaGold Resources has a 52 week low of $3.35 and a 52 week high of $6.19. The firm has a market cap of $1,160.00, a price-to-earnings ratio of -30.00 and a beta of 0.07.

COPYRIGHT VIOLATION WARNING: “NovaGold Resources Inc. (NG) Sees Large Growth in Short Interest” was originally reported by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://www.dailypolitical.com/2018/02/09/novagold-resources-inc-ng-sees-large-growth-in-short-interest.html.

About NovaGold Resources

Novagold Resources Inc is a mineral exploration company. The Company is engaged in the exploration and development of mineral properties. The Company’s segments include the Donlin Gold project in Alaska, the United States and the Galore Creek project in British Columbia, Canada. The Company operates in the gold mining industry, primarily focused on advancing permitting of the Donlin Gold project in Alaska.

Receive News & Ratings for NovaGold Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NovaGold Resources and related companies with MarketBeat.com's FREE daily email newsletter.