Shares of Novagold Resources (NG) Sees Large Outflow of Money

Novagold Resources (NG) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (3.47 million) in Novagold Resources (NG). On Monday, The value of composite uptick trades was $0.72 million, whereas, the value of composite downtick trades was $4.19 million and the ratio between the two was 0.17, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $3.34 million. The negative money flow of ($3.34 million) shows selling on strength. Novagold Resources (NG) gained $0.01 intraday at $6.59 and registrered 0.08% for the week.


NovaGold Resources Inc. has lost 3.09% in the last five trading days and dropped 5.86% in the last 4 weeks. NovaGold Resources Inc. is up 5.78% in the last 3-month period. Year-to-Date the stock performance stands at 56.53%.

Novagold Resources (NYSEMKT:NG): During Mondays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.58 and $6.53 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.66. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.59, notching a gain of 0.15% for the day. The total traded volume was 1,968,887 . The stock had closed at $6.58 on the previous day.

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.

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