Insider Selling: NovaGold Resources Inc. (NYSEAMERICAN:NG) Director Sells $161,406.50 in Stock

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NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) Director Kalidas V. Madhavpeddi sold 27,925 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $5.78, for a total value of $161,406.50. Following the sale, the director now directly owns 179,726 shares in the company, valued at approximately $1,038,816.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of NYSEAMERICAN:NG opened at $6.13 on Friday. NovaGold Resources Inc. has a 12 month low of $3.41 and a 12 month high of $6.13.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last announced its earnings results on Wednesday, June 26th. The mining company reported ($0.02) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02).

Separately, Zacks Investment Research cut GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a report on Thursday, July 4th.

A number of large investors have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV bought a new position in shares of NovaGold Resources in the first quarter valued at $43,000. Miracle Mile Advisors LLC bought a new position in shares of NovaGold Resources in the first quarter valued at $96,000. Campbell & CO Investment Adviser LLC bought a new position in shares of NovaGold Resources in the second quarter valued at $136,000. Shell Asset Management Co. increased its holdings in shares of NovaGold Resources by 28.7% in the first quarter. Shell Asset Management Co. now owns 23,741 shares of the mining company’s stock valued at $99,000 after buying an additional 5,300 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. increased its holdings in shares of NovaGold Resources by 42.3% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 23,985 shares of the mining company’s stock valued at $95,000 after buying an additional 7,125 shares in the last quarter.

NovaGold Resources Company Profile

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.

Further Reading: Outstanding Shares

Insider Buying and Selling by Quarter for NovaGold Resources (NYSEAMERICAN:NG)

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