Insider Selling: NovaGold Resources Inc. (NYSEAMERICAN:NG) CEO Sells $116,780.40 in Stock

NovaGold Resources Inc. (NYSEAMERICAN:NGGet Rating) (TSE:NG) CEO Gregory A. Lang sold 21,626 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $5.40, for a total transaction of $116,780.40. Following the completion of the transaction, the chief executive officer now directly owns 8,295 shares in the company, valued at $44,793. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

NovaGold Resources Stock Performance

NG stock opened at $5.83 on Friday. The company has a debt-to-equity ratio of 2.96, a current ratio of 45.44 and a quick ratio of 45.43. The company has a 50-day simple moving average of $5.44. NovaGold Resources Inc. has a 52 week low of $4.06 and a 52 week high of $8.36. The firm has a market capitalization of $1.94 billion, a P/E ratio of -38.86 and a beta of 0.73.

NovaGold Resources (NYSEAMERICAN:NGGet Rating) (TSE:NG) last released its quarterly earnings results on Tuesday, October 4th. The mining company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, analysts forecast that NovaGold Resources Inc. will post -0.12 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on NG. National Bank Financial increased their price objective on shares of NovaGold Resources from C$9.00 to C$10.00 in a research report on Thursday, October 13th. B. Riley dropped their price objective on shares of NovaGold Resources from $28.00 to $10.00 in a research report on Tuesday, October 25th.

Hedge Funds Weigh In On NovaGold Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Jennison Associates LLC acquired a new stake in NovaGold Resources during the second quarter worth about $545,000. Cerity Partners LLC acquired a new stake in NovaGold Resources during the second quarter worth about $143,000. Aigen Investment Management LP acquired a new stake in NovaGold Resources during the first quarter worth about $161,000. Teacher Retirement System of Texas grew its stake in NovaGold Resources by 98.8% during the first quarter. Teacher Retirement System of Texas now owns 949,816 shares of the mining company’s stock worth $7,342,000 after buying an additional 472,000 shares in the last quarter. Finally, Alpha Cubed Investments LLC acquired a new stake in NovaGold Resources during the second quarter worth about $48,000. 52.06% of the stock is currently owned by institutional investors and hedge funds.

About NovaGold Resources

(Get Rating)

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.

Read More

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

Receive News & Ratings for NovaGold Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NovaGold Resources and related companies with MarketBeat.com's FREE daily email newsletter.