NovaGold Resources (NYSEAMERICAN:NG) Shares Pass Above 200 Day Moving Average – Should You Sell?

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG)’s share price crossed 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 traded.

Analysts Set New Price Targets

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

NovaGold Resources Price Performance

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

Institutional Investors Weigh In On NovaGold Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in NovaGold Resources by 8.8% during the 4th quarter. SG Americas Securities LLC now owns 214,126 shares of the mining company’s stock valued at $713,000 after acquiring an additional 17,341 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of NovaGold Resources by 21.5% during the third quarter. JPMorgan Chase & Co. now owns 394,749 shares of the mining company’s stock valued at $1,618,000 after purchasing an additional 69,785 shares in the last quarter. Virtu Financial LLC purchased a new position in NovaGold Resources during the third quarter worth about $308,000. Toronto Dominion Bank grew its position in NovaGold Resources by 67.3% in the 3rd quarter. Toronto Dominion Bank now owns 23,300 shares of the mining company’s stock worth $96,000 after purchasing an additional 9,377 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in NovaGold Resources by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,046,926 shares of the mining company’s stock valued at $12,497,000 after buying an additional 9,629 shares during the last quarter. 57.56% of the stock is 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.