Dawn Patricia Whittaker Acquires 4,000 Shares of Novagold Resources (NYSEAMERICAN:NG) Stock

Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) Director Dawn Patricia Whittaker acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were purchased at an average price of $9.36 per share, for a total transaction of $37,440.00. Following the completion of the transaction, the director directly owned 4,000 shares in the company, valued at approximately $37,440. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Novagold Resources Trading Up 10.7%

Shares of NG stock opened at $9.19 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 23.79 and a current ratio of 23.79. The stock has a fifty day simple moving average of $9.85 and a two-hundred day simple moving average of $8.42. The firm has a market capitalization of $3.74 billion, a PE ratio of -36.76 and a beta of 0.82. Novagold Resources Inc. has a 52-week low of $2.26 and a 52-week high of $12.09.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. BMO Capital Markets started coverage on Novagold Resources in a research note on Tuesday, November 4th. They set an “outperform” rating for the company. National Bank Financial upgraded Novagold Resources from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, October 29th. Scotiabank initiated coverage on shares of Novagold Resources in a report on Friday. They issued a “sector outperform” rating for the company. Zacks Research downgraded shares of Novagold Resources from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Finally, Citigroup increased their price objective on shares of Novagold Resources from $7.00 to $12.50 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Novagold Resources has a consensus rating of “Moderate Buy” and an average target price of $10.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Torren Management LLC purchased a new stake in shares of Novagold Resources during the 4th quarter worth $27,000. Leonteq Securities AG bought a new position in Novagold Resources in the fourth quarter worth about $38,000. Hantz Financial Services Inc. purchased a new stake in shares of Novagold Resources during the third quarter valued at about $40,000. Shepherd Financial Partners LLC bought a new stake in shares of Novagold Resources in the 2nd quarter valued at about $41,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Novagold Resources in the 2nd quarter worth approximately $44,000. 57.56% of the stock is currently owned by hedge funds and other institutional investors.

About Novagold Resources

Novagold Resources Inc is a mineral exploration and development company headquartered in Vancouver, British Columbia. The firm is focused on advancing large-scale precious metals projects through disciplined project management, environmental stewardship and community engagement. Novagold maintains a lean corporate structure while leveraging partnerships and industry expertise to advance its projects toward production.

The company’s flagship asset is the Donlin Gold project in Alaska, a 50/50 joint venture with Barrick Gold Corporation.