NovaGold Resources Inc. (NG) Short Interest Down 3.6% in September

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.

A number of hedge funds have recently made changes to their positions in the stock. Exor Investments UK LLP lifted its stake in NovaGold Resources by 75.9% in the second quarter. Exor Investments UK LLP now owns 5,754,905 shares of the mining company’s stock worth $25,609,000 after acquiring an additional 2,483,827 shares during the period. Russell Investments Group Ltd. lifted its stake in NovaGold Resources by 10.8% in the first quarter. Russell Investments Group Ltd. now owns 2,096,958 shares of the mining company’s stock worth $9,079,000 after acquiring an additional 204,957 shares during the period. Levin Capital Strategies L.P. lifted its stake in NovaGold Resources by 81.2% in the second quarter. Levin Capital Strategies L.P. now owns 1,783,786 shares of the mining company’s stock worth $7,938,000 after acquiring an additional 799,483 shares during the period. TD Asset Management Inc. lifted its stake in NovaGold Resources by 8.7% in the second quarter. TD Asset Management Inc. now owns 1,120,718 shares of the mining company’s stock worth $5,018,000 after acquiring an additional 89,300 shares during the period. Finally, Bank of Montreal Can lifted its stake in NovaGold Resources by 11.0% in the second quarter. Bank of Montreal Can now owns 741,151 shares of the mining company’s stock worth $3,299,000 after acquiring an additional 73,274 shares during the period.

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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