NovaGold Resources (NYSEAMERICAN:NG) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $3.39. NovaGold Resources shares last traded at $3.33, with a volume of 3,322,803 shares trading hands.

NovaGold Resources Price Performance

The firm has a market capitalization of $1.11 billion, a PE ratio of -25.62 and a beta of 1.05.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Barclays PLC grew its holdings in shares of NovaGold Resources by 19.9% in the 3rd quarter. Barclays PLC now owns 917,835 shares of the mining company’s stock worth $3,762,000 after acquiring an additional 152,164 shares during the period. State Street Corp grew its holdings in NovaGold Resources by 5.0% in the third quarter. State Street Corp now owns 4,321,172 shares of the mining company’s stock valued at $17,717,000 after purchasing an additional 206,610 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in NovaGold Resources by 21.5% in the third quarter. JPMorgan Chase & Co. now owns 394,749 shares of the mining company’s stock valued at $1,618,000 after purchasing an additional 69,785 shares during the last quarter. Bank of Montreal Can increased its position in shares of NovaGold Resources by 26.5% in the third quarter. Bank of Montreal Can now owns 1,278,090 shares of the mining company’s stock valued at $5,377,000 after buying an additional 267,713 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of NovaGold Resources by 20.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,146,787 shares of the mining company’s stock worth $4,702,000 after buying an additional 195,117 shares during the last quarter. Hedge funds and other institutional investors own 57.56% of the company’s stock.

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.