NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) was the target of a large decline in short interest in the month of September. As of September 14th, there was short interest totalling 11,838,169 shares, a decline of 3.6% from the August 31st total of 12,283,341 shares. Based on an average trading volume of 1,022,921 shares, the short-interest ratio is presently 11.6 days.
Separately, Zacks Investment Research cut NovaGold Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th.
In related news, VP David A. Ottewell sold 60,309 shares of the business’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $3.73, for a total value of $224,952.57. Following the sale, the vice president now directly owns 645,385 shares in the company, valued at approximately $2,407,286.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
NYSEAMERICAN:NG opened at $3.70 on Thursday. NovaGold Resources has a fifty-two week low of $3.35 and a fifty-two week high of $5.05.
NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last released its quarterly earnings data on Wednesday, June 27th. The mining company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01).
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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