NovaGold Resources (NYSEAMERICAN:NG) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Posted by Francis Steltz on Jan 25th, 2025

NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $3.33. NovaGold Resources shares last traded at $3.15, with a volume of 3,635,063 shares changing hands.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Report on NG

NovaGold Resources Stock Down 4.8 %

The firm has a market capitalization of $1.00 billion, a P/E ratio of -23.08 and a beta of 1.06.

Institutional Trading of NovaGold Resources

Several institutional investors have recently modified their holdings of the business. Northwest & Ethical Investments L.P. acquired a new stake in NovaGold Resources during the 3rd quarter valued at approximately $31,000. AQR Capital Management LLC acquired a new stake in shares of NovaGold Resources during the second quarter worth $49,000. Toronto Dominion Bank raised its stake in NovaGold Resources by 67.3% during the third quarter. Toronto Dominion Bank now owns 23,300 shares of the mining company’s stock worth $96,000 after buying an additional 9,377 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in NovaGold Resources in the third quarter valued at $102,000. Finally, Point72 Asset Management L.P. bought a new stake in NovaGold Resources during the third quarter valued at $121,000. 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.