NovaGold Resources (NYSEAMERICAN:NG) Upgraded by Zacks Investment Research to Hold
According to Zacks, “NovaGold Resources is a gold and copper company engaged in the exploration and development of mineral properties in Alaska and Western Canada. The Company is rapidly moving to production at its hundred percent owned Nome Operations in Alaska, which includes Rock Creek, Big Hurrah and Nome Gold. NovaGold recently announced its partnership with Teck Cominco to build the Galore Creek copper-gold mine in northwestern British Columbia, with NovaGold and Teck Cominco each owning 50% of the project once Teck Cominco has completed its partnership requirements. “
Shares of NYSEAMERICAN:NG traded up $0.02 on Friday, reaching $6.28. The company had a trading volume of 1,102,335 shares, compared to its average volume of 1,834,066. NovaGold Resources has a twelve month low of $3.41 and a twelve month high of $6.58.
In other news, insider Gregory A. Lang sold 66,793 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $4.36, for a total value of $291,217.48. Following the transaction, the insider now directly owns 297,134 shares of the company’s stock, valued at approximately $1,295,504.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David A. Ottewell sold 26,166 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $4.27, for a total value of $111,728.82. Following the completion of the transaction, the vice president now directly owns 619,999 shares in the company, valued at $2,647,395.73. The disclosure for this sale can be found here. Insiders sold a total of 399,484 shares of company stock worth $2,230,098 over the last three months.
A number of large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of NovaGold Resources during the 4th quarter valued at $12,388,000. Exor Investments UK LLP raised its position in shares of NovaGold Resources by 11.6% during the 2nd quarter. Exor Investments UK LLP now owns 6,573,905 shares of the mining company’s stock valued at $38,852,000 after acquiring an additional 684,000 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of NovaGold Resources during the 1st quarter valued at $2,208,000. D. E. Shaw & Co. Inc. raised its position in shares of NovaGold Resources by 356.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 363,406 shares of the mining company’s stock valued at $1,435,000 after acquiring an additional 283,847 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of NovaGold Resources by 13.2% during the 1st quarter. Teacher Retirement System of Texas now owns 1,821,816 shares of the mining company’s stock valued at $7,597,000 after acquiring an additional 211,816 shares during the last quarter.
About NovaGold Resources
NovaGold Resources Inc primarily explores for and develops gold mineral properties in Canada and the United States. Its principal asset is the Donlin Gold property covering an area of 71,420 acres 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.
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