Novagold Resources (NG) has risen sharply, recording gains of 11.64% in the past 4 weeks. However, the stock has corrected -1.69% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 6.97% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week. The stock has recorded a 20-day Moving Average of 5.84% and the 50-Day Moving Average is 12.77%.
Novagold Resources (NYSEMKT:NG): The stock opened at $7.03 on Friday but the bulls could not build on the opening and the stock topped out at $7.27 for the day. The stock traded down to $7.00 during the day, due to lack of any buying support eventually closed down at $7.00 with a loss of -2.10% for the day. The stock had closed at $7.15 on the previous day. The total traded volume was 1,961,562 shares.
The company Insiders own 31.83% of Novagold Resources shares according to the proxy statements. Institutional Investors own 45.99% of Novagold Resources shares. During last six month period, the net percent change held by insiders has seen a change of -4.73%. In a related news, The Securities and Exchange Commission has divulged that Deisley David, (Exec. VP & General Counsel) of Novagold Resources Inc, had unloaded 106,582 shares at an average price of $6.95 in a transaction dated on March 4, 2016. The total value of the transaction was worth $740,745.
NOVAGOLD RESOURCES INC. (NOVAGOLD) is engaged in the exploration and development of mineral properties. The Company operates in the mining industry, focused on the exploration for and development of gold and copper mineral properties. The Companys principal assets include a 50% interest in the Donlin Gold project in Alaska, the United States and a 50% interest in the Galore Creek project in British Columbia, Canada. The Companys primary focus is on the Donlin Gold project. The Donlin Gold project is owned and operated by Donlin Gold LLC, a limited liability company that is owned equally by wholly owned subsidiaries of NOVAGOLD and Barrick Gold Corporation (Barrick). The Galore Creek project is owned by the Galore Creek Partnership, a partnership in which NOVAGOLD Canada Inc, a wholly owned subsidiary of NOVAGOLD, owns approximately 50% interest. The Company has no operations or realized revenues from its planned principal business purpose.