NovaGold Resources (NYSEAMERICAN:NG) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) from a hold rating to a sell rating in a report published on Monday morning.

NovaGold Resources Stock Up 1.3 %

NYSEAMERICAN:NG opened at $4.65 on Monday. The company has a market capitalization of $1.56 billion, a PE ratio of -35.77 and a beta of 1.02. NovaGold Resources has a 1-year low of $2.22 and a 1-year high of $4.88.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last issued its earnings results on Wednesday, June 26th. The mining company reported ($0.04) EPS for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of NovaGold Resources during the first quarter worth $28,000. Sheaff Brock Investment Advisors LLC bought a new stake in NovaGold Resources in the first quarter worth approximately $32,000. HTLF Bank acquired a new stake in shares of NovaGold Resources in the 4th quarter valued at $67,000. Cypress Wealth Services LLC acquired a new position in NovaGold Resources during the second quarter worth $70,000. Finally, Oak Thistle LLC acquired a new stake in NovaGold Resources in the 4th quarter worth approximately $75,000. 57.56% of the stock is currently owned by institutional investors.

NovaGold Resources Company Profile

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.