NovaGold Resources (NYSEAMERICAN:NG) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) from a sell rating to a hold rating in a report published on Thursday morning.

NovaGold Resources Trading Up 6.5 %

NovaGold Resources stock opened at $3.61 on Thursday. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -27.77 and a beta of 1.18. NovaGold Resources has a twelve month low of $2.22 and a twelve month high of $4.66.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last posted its quarterly earnings data on Wednesday, June 26th. The mining company reported ($0.04) earnings per share for the quarter.

Institutional Investors Weigh In On NovaGold Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in NovaGold Resources during the 1st quarter worth approximately $28,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of NovaGold Resources during the first quarter worth $32,000. HTLF Bank bought a new position in shares of NovaGold Resources in the 4th quarter valued at $67,000. Oak Thistle LLC acquired a new stake in shares of NovaGold Resources during the 4th quarter valued at $75,000. Finally, Algert Global LLC bought a new stake in NovaGold Resources during the 3rd quarter worth $96,000. 57.56% of the stock is currently owned by institutional investors.

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.