Hume D. Kyle Buys 10,000 Shares of Novagold Resources Inc. (NYSEAMERICAN:NG) Stock

Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) Director Hume D. Kyle purchased 10,000 shares of Novagold Resources stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of $4.10 per share, for a total transaction of $41,000.00. Following the transaction, the director directly owned 22,348 shares of the company’s stock, valued at approximately $91,626.80. This represents a 80.98% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Novagold Resources Stock Up 0.9%

Shares of NYSEAMERICAN:NG opened at $4.52 on Friday. The firm’s 50 day moving average price is $4.01 and its 200 day moving average price is $3.49. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -18.83 and a beta of 0.67. Novagold Resources Inc. has a fifty-two week low of $2.26 and a fifty-two week high of $5.06. The company has a quick ratio of 76.72, a current ratio of 76.72 and a debt-to-equity ratio of 0.96.

Wall Street Analyst Weigh In

NG has been the topic of several research reports. National Bank Financial raised shares of Novagold Resources to a “hold” rating in a research report on Friday, March 21st. Royal Bank Of Canada raised shares of Novagold Resources from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $5.00 to $7.00 in a research report on Wednesday, June 4th.

Institutional Trading of Novagold Resources

Several hedge funds have recently added to or reduced their stakes in NG. Kopernik Global Investors LLC raised its holdings in Novagold Resources by 23.1% in the fourth quarter. Kopernik Global Investors LLC now owns 17,006,844 shares of the mining company’s stock valued at $56,633,000 after acquiring an additional 3,187,981 shares in the last quarter. Empyrean Capital Partners LP raised its holdings in Novagold Resources by 239.1% in the first quarter. Empyrean Capital Partners LP now owns 1,933,066 shares of the mining company’s stock valued at $5,645,000 after acquiring an additional 1,363,066 shares in the last quarter. Alps Advisors Inc. increased its stake in Novagold Resources by 458.9% in the first quarter. Alps Advisors Inc. now owns 1,143,199 shares of the mining company’s stock valued at $3,338,000 after purchasing an additional 938,639 shares during the last quarter. Nuveen LLC purchased a new position in Novagold Resources in the first quarter valued at approximately $2,539,000. Finally, Raymond James Financial Inc. purchased a new position in Novagold Resources in the fourth quarter valued at approximately $1,952,000. Institutional investors and hedge funds own 57.56% of the company’s stock.

About Novagold Resources

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.