Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) dropped 0.3% during trading on Friday . The company traded as low as $3.63 and last traded at $3.75. Approximately 39,364 shares changed hands during trading, a decline of 97% from the average daily volume of 1,481,108 shares. The stock had previously closed at $3.74.

Several analysts have commented on NG shares. Zacks Investment Research upgraded NovaGold Resources from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. JPMorgan Chase & Co. lowered their price target on NovaGold Resources from $7.50 to $7.00 and set an “overweight” rating for the company in a report on Tuesday, April 24th.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last issued its quarterly earnings results on Wednesday, June 27th. The mining company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01).

Institutional investors and hedge funds have recently modified their holdings of the stock. Deutsche Bank AG lifted its holdings in shares of NovaGold Resources by 191.2% in the fourth quarter. Deutsche Bank AG now owns 209,620 shares of the mining company’s stock valued at $823,000 after buying an additional 137,626 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of NovaGold Resources during the first quarter valued at $571,000. Swiss National Bank lifted its holdings in shares of NovaGold Resources by 5.7% during the first quarter. Swiss National Bank now owns 420,000 shares of the mining company’s stock valued at $1,817,000 after purchasing an additional 22,800 shares during the last quarter. Artal Group S.A. purchased a new stake in shares of NovaGold Resources during the first quarter valued at $4,330,000. Finally, BNP Paribas Arbitrage SA purchased a new stake in shares of NovaGold Resources during the first quarter valued at $113,000.

About NovaGold Resources (NYSEAMERICAN:NG)

NovaGold Resources Inc explores for and develops mineral properties in Canada and the United States. The company primarily explores for gold, silver, and copper deposits. It primarily holds a 50% interest in the Donlin Gold property that covers an area of 71,420 acres located in the Kuskokwim region of southwestern Alaska.

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