Novagold Resources Inc. (NYSEMKT:NG) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Tuesday.
A number of other brokerages have also weighed in on NG. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Novagold Resources in a report on Wednesday, June 29th. Zacks Investment Research lowered Novagold Resources from a “hold” rating to a “sell” rating in a report on Friday, July 1st.
Novagold Resources (NYSEMKT:NG) opened at 5.72 on Tuesday. The stock’s 50 day moving average price is $5.77 and its 200 day moving average price is $6.01. Novagold Resources has a 12-month low of $3.05 and a 12-month high of $7.29. The stock’s market cap is $1.83 billion.
In other news, Director Gillyeard J. Leathley sold 13,668 shares of the company’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $7.17, for a total value of $97,999.56. Following the sale, the director now directly owns 115,396 shares in the company, valued at $827,389.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Hedge funds have recently modified their holdings of the stock. Eqis Capital Management Inc. acquired a new position in Novagold Resources during the second quarter valued at $108,000. World Asset Management Inc increased its position in Novagold Resources by 7.9% in the second quarter. World Asset Management Inc now owns 19,857 shares of the company’s stock valued at $122,000 after buying an additional 1,449 shares during the period. Creative Planning increased its position in Novagold Resources by 11.9% in the second quarter. Creative Planning now owns 20,017 shares of the company’s stock valued at $123,000 after buying an additional 2,133 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in Novagold Resources during the second quarter valued at $142,000. Finally, LPL Financial LLC increased its position in Novagold Resources by 10.9% in the first quarter. LPL Financial LLC now owns 25,500 shares of the company’s stock valued at $135,000 after buying an additional 2,500 shares during the period.
About Novagold Resources
Novagold Resources Inc is a mineral exploration company. The Company is engaged in the exploration and development of mineral properties. The Company’s segment is involved in the exploration and development of mineral properties. The Company is focused on advancing permitting of the Donlin Gold project in Alaska.
Receive News & Ratings for Novagold Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novagold Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.