NovaGold Resources (NYSEAMERICAN:NG) Stock Passes Above 200 Day Moving Average – Should You Sell?

Posted by Scott Moore on Jan 17th, 2025

NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $3.39. NovaGold Resources shares last traded at $3.31, with a volume of 1,660,153 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded NovaGold Resources to a “strong-buy” rating in a research report on Thursday, October 3rd.

Read Our Latest Stock Analysis on NovaGold Resources

NovaGold Resources Stock Performance

The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -25.23 and a beta of 1.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwest & Ethical Investments L.P. purchased a new position in shares of NovaGold Resources during the third quarter valued at approximately $31,000. AQR Capital Management LLC purchased a new stake in NovaGold Resources in the second quarter worth $49,000. Evoke Wealth LLC bought a new position in NovaGold Resources in the second quarter worth $66,000. Toronto Dominion Bank lifted its position in NovaGold Resources by 67.3% during the third quarter. Toronto Dominion Bank now owns 23,300 shares of the mining company’s stock valued at $96,000 after buying an additional 9,377 shares during the period. Finally, Banque Cantonale Vaudoise bought a new stake in shares of NovaGold Resources during the 3rd quarter valued at $102,000. Institutional investors own 57.56% of the company’s stock.

About NovaGold Resources

(Get Free Report)

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.