NovaGold Resources Inc. (NYSEMKT:NG) Cut to Sell at BidaskClub

NovaGold Resources Inc. (NYSEMKT:NG) (TSE:NG) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday, August 9th.

Separately, Zacks Investment Research lowered NovaGold Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th.

NovaGold Resources (NYSEMKT NG) opened at 4.08 on Wednesday. The company’s market capitalization is $1.31 billion. The stock’s 50 day moving average price is $4.37 and its 200-day moving average price is $4.66. NovaGold Resources has a 52-week low of $3.78 and a 52-week high of $6.21.

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In related news, Director Gillyeard J. Leathley sold 7,000 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $5.65, for a total value of $39,550.00. Following the completion of the sale, the director now directly owns 84,940 shares of the company’s stock, valued at approximately $479,911. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David A. Ottewell sold 43,224 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $4.65, for a total value of $200,991.60. Following the completion of the sale, the vice president now directly owns 788,540 shares of the company’s stock, valued at $3,666,711. The disclosure for this sale can be found here.

Institutional investors have recently modified their holdings of the company. OppenheimerFunds Inc. increased its position in NovaGold Resources by 10.0% in the first quarter. OppenheimerFunds Inc. now owns 110,000 shares of the mining company’s stock valued at $536,000 after buying an additional 10,000 shares during the last quarter. Morgan Stanley increased its position in NovaGold Resources by 52.1% in the first quarter. Morgan Stanley now owns 1,800,749 shares of the mining company’s stock valued at $8,770,000 after buying an additional 617,162 shares during the last quarter. Highbridge Capital Management LLC bought a new position in NovaGold Resources during the fourth quarter valued at $119,000. Clearbridge Investments LLC increased its position in NovaGold Resources by 0.9% in the first quarter. Clearbridge Investments LLC now owns 2,458,184 shares of the mining company’s stock valued at $11,971,000 after buying an additional 20,780 shares during the last quarter. Finally, Legacy Capital Partners Inc. increased its position in NovaGold Resources by 19.9% in the first quarter. Legacy Capital Partners Inc. now owns 31,300 shares of the mining company’s stock valued at $153,000 after buying an additional 5,200 shares during the last quarter.

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 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.

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