NovaGold Resources Inc. (NG) Short Interest Up 0.1% in August

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 12,283,341 shares, a growth of 0.1% from the August 15th total of 12,272,423 shares. Based on an average daily volume of 1,434,436 shares, the short-interest ratio is currently 8.6 days.

Shares of NG traded up $0.04 on Friday, reaching $4.00. The company’s stock had a trading volume of 750,228 shares, compared to its average volume of 1,422,011. NovaGold Resources has a 12-month low of $3.35 and a 12-month high of $5.05.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last issued its quarterly earnings results on Tuesday, October 2nd. The mining company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01.

In other news, VP David A. Ottewell sold 60,309 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $3.73, for a total value of $224,952.57. Following the completion of the sale, the vice president now owns 645,385 shares of the company’s stock, valued at approximately $2,407,286.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA purchased a new position in NovaGold Resources during the first quarter worth $113,000. Cubist Systematic Strategies LLC purchased a new position in NovaGold Resources during the second quarter worth $153,000. OLD Mission Capital LLC purchased a new position in NovaGold Resources during the second quarter worth $158,000. BlackRock Inc. boosted its stake in NovaGold Resources by 131.9% during the second quarter. BlackRock Inc. now owns 46,718 shares of the mining company’s stock worth $208,000 after buying an additional 26,572 shares during the period. Finally, Natixis boosted its stake in NovaGold Resources by 161.8% during the first quarter. Natixis now owns 44,500 shares of the mining company’s stock worth $214,000 after buying an additional 27,500 shares during the period.

Separately, Zacks Investment Research lowered shares of NovaGold Resources from a “hold” rating to a “sell” rating in a report on Thursday, September 20th.

About NovaGold Resources

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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