Novagold Resources Inc. (NG) Rating Increased to Overweight at JPMorgan Chase & Co.
Novagold Resources Inc. (NYSEMKT:NG) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday.
A number of other brokerages have also recently commented on NG. Zacks Investment Research raised shares of Novagold Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Novagold Resources in a research note on Wednesday, June 29th.
Novagold Resources (NYSEMKT:NG) opened at 5.72 on Tuesday. The stock’s market cap is $1.83 billion. The firm’s 50-day moving average is $5.77 and its 200 day moving average is $6.01. Novagold Resources has a one year low of $3.05 and a one year high of $7.29.
In related news, Director Gillyeard J. Leathley sold 13,668 shares of Novagold Resources stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $7.17, for a total value of $97,999.56. Following the sale, the director now owns 115,396 shares of the company’s stock, valued at approximately $827,389.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Novagold Resources by 31.3% in the second quarter. FMR LLC now owns 27,219,842 shares of the company’s stock worth $166,654,000 after buying an additional 6,482,800 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Novagold Resources by 18.2% in the second quarter. Van ECK Associates Corp now owns 20,123,204 shares of the company’s stock worth $123,154,000 after buying an additional 3,099,589 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Novagold Resources by 13.1% in the second quarter. Vanguard Group Inc. now owns 4,063,293 shares of the company’s stock worth $24,867,000 after buying an additional 471,232 shares during the last quarter. Norges Bank purchased a new position in shares of Novagold Resources during the fourth quarter worth $14,525,000. Finally, Teacher Retirement System of Texas raised its position in shares of Novagold Resources by 43.8% in the second quarter. Teacher Retirement System of Texas now owns 2,445,000 shares of the company’s stock worth $14,963,000 after buying an additional 745,000 shares during the last quarter.
About Novagold Resources
Novagold Resources Inc is a mineral exploration company. The Company is engaged in the exploration and development of mineral properties. The Company’s segment is involved in the exploration and development of mineral properties. The Company is focused on advancing permitting of the Donlin Gold project in Alaska.
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