NovaGold Resources (NYSEAMERICAN:NG) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) announced its quarterly earnings results on Wednesday. The mining company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01), MarketWatch Earnings reports. During the same period in the prior year, the business posted ($0.04) earnings per share.

NYSEAMERICAN:NG opened at $6.88 on Friday. NovaGold Resources has a 1-year low of $6.48 and a 1-year high of $11.92. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -62.55 and a beta of 0.64. The company has a quick ratio of 85.40, a current ratio of 85.40 and a debt-to-equity ratio of 1.15. The company’s fifty day simple moving average is $10.09.

In other NovaGold Resources news, CEO Gregory A. Lang sold 25,089 shares of NovaGold Resources stock in a transaction on Thursday, July 29th. The shares were sold at an average price of $8.11, for a total transaction of $203,471.79. Following the completion of the sale, the chief executive officer now owns 63,498 shares of the company’s stock, valued at approximately $514,968.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 29.05% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in NovaGold Resources stock. Morgan Stanley increased its position in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 126.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,152,769 shares of the mining company’s stock after acquiring an additional 643,099 shares during the quarter. Morgan Stanley owned about 0.35% of NovaGold Resources worth $9,234,000 at the end of the most recent quarter. Institutional investors and hedge funds own 50.28% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of NovaGold Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, June 8th.

About NovaGold Resources

NovaGold Resources, Inc engages in the acquisition, exploration, and development of metal properties primarily located in Alaska and British Columbia. Its developments include Donlin Gold and Galore Creek projects. The company was founded by Gregory Shawn Johnson, John W. Chisholm, Macisaac G. Angus, Rick van Nieuwenhuyse, and Gerald James McConnell on December 5, 1984 and is headquartered in Vancouver, Canada.

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Earnings History for NovaGold Resources (NYSEAMERICAN:NG)

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