NovaGold Resources Inc. (NG) Short Interest Update

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) was the recipient of a large drop in short interest in the month of April. As of April 30th, there was short interest totalling 11,941,003 shares, a drop of 2.3% from the April 15th total of 12,219,919 shares. Based on an average daily volume of 1,334,500 shares, the short-interest ratio is currently 8.9 days.

In related news, VP David A. Ottewell sold 22,586 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $4.35, for a total value of $98,249.10. Following the completion of the transaction, the vice president now owns 608,540 shares of the company’s stock, valued at approximately $2,647,149. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David A. Ottewell sold 18,716 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $3.97, for a total transaction of $74,302.52. Following the completion of the transaction, the chief financial officer now directly owns 604,940 shares of the company’s stock, valued at approximately $2,401,611.80. The disclosure for this sale can be found here. Insiders sold a total of 41,360 shares of company stock valued at $172,796 in the last ninety days.

A number of hedge funds have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV bought a new position in shares of NovaGold Resources during the 1st quarter valued at $43,000. OLD Mission Capital LLC bought a new position in shares of NovaGold Resources during the 1st quarter valued at $46,000. SlateStone Wealth LLC bought a new position in shares of NovaGold Resources during the 4th quarter valued at $49,000. Signition LP bought a new position in shares of NovaGold Resources during the 4th quarter valued at $50,000. Finally, Hsbc Holdings PLC bought a new position in shares of NovaGold Resources during the 1st quarter valued at $65,000.

NG stock opened at $3.79 on Thursday. NovaGold Resources has a 12-month low of $3.41 and a 12-month high of $4.90.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last released its earnings results on Tuesday, April 2nd. The mining company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01.

A number of research firms have issued reports on NG. Zacks Investment Research downgraded shares of NovaGold Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. B. Riley reiterated a “buy” rating on shares of NovaGold Resources in a research report on Friday, January 25th.

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About NovaGold Resources

NovaGold Resources Inc primarily explores for and develops gold mineral properties in Canada and the United States. Its principal asset is the Donlin Gold property covering an area of 71,420 acres located in the Kuskokwim region of southwestern Alaska. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc in March 1987.

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