NovaGold Resources Inc. (NYSEAMERICAN:NG) Short Interest Up 33.4% in April

NovaGold Resources Inc. (NYSEAMERICAN:NGGet Rating) (TSE:NG) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 8,500,000 shares, a growth of 33.4% from the April 15th total of 6,370,000 shares. Currently, 3.7% of the company’s shares are sold short. Based on an average trading volume of 1,660,000 shares, the short-interest ratio is currently 5.1 days.

In other NovaGold Resources news, Director Anthony P. Walsh sold 22,406 shares of the business’s stock in a transaction dated Wednesday, February 23rd. The stock was sold at an average price of $7.10, for a total value of $159,082.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory A. Lang sold 54,280 shares of the stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $8.15, for a total value of $442,382.00. Following the completion of the sale, the chief executive officer now owns 3,852 shares of the company’s stock, valued at $31,393.80. The disclosure for this sale can be found here. Insiders sold a total of 149,850 shares of company stock worth $1,145,426 over the last quarter. 29.05% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Centiva Capital LP acquired a new position in shares of NovaGold Resources during the 3rd quarter worth approximately $28,000. Whittier Trust Co. grew its position in NovaGold Resources by 100.0% during the fourth quarter. Whittier Trust Co. now owns 10,000 shares of the mining company’s stock worth $69,000 after buying an additional 5,000 shares in the last quarter. Keene & Associates Inc. bought a new position in NovaGold Resources during the 4th quarter worth $69,000. St. Johns Investment Management Company LLC raised its holdings in NovaGold Resources by 545.0% in the 1st quarter. St. Johns Investment Management Company LLC now owns 9,900 shares of the mining company’s stock valued at $77,000 after acquiring an additional 8,365 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of NovaGold Resources during the 1st quarter valued at $78,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.

A number of brokerages recently issued reports on NG. Royal Bank of Canada set a $8.00 target price on NovaGold Resources and gave the company a “sector perform” rating in a research report on Monday, February 7th. Zacks Investment Research lowered shares of NovaGold Resources from a “hold” rating to a “sell” rating in a research report on Friday, April 15th.

Shares of NG traded up $0.03 during mid-day trading on Tuesday, reaching $5.53. The company’s stock had a trading volume of 1,434,898 shares, compared to its average volume of 1,623,454. The company has a quick ratio of 38.66, a current ratio of 38.66 and a debt-to-equity ratio of 1.48. NovaGold Resources has a 1-year low of $5.22 and a 1-year high of $10.45. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -45.83 and a beta of 0.65.

NovaGold Resources (NYSEAMERICAN:NGGet Rating) (TSE:NG) last issued its quarterly earnings data on Tuesday, April 5th. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). As a group, analysts expect that NovaGold Resources will post -0.09 earnings per share for the current year.

NovaGold Resources Company Profile (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.

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