Short Interest in NovaGold Resources Decreases By
Post# of 22757
Posted by Scott Davis on Sep 25th, 2014 // No Comments
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NovaGold Resources Inc. logoShares of NovaGold Resources (NYSE:NG) saw a large decline in short interest in September. As of September 15th, there was short interest totalling 13,046,990 shares, a decline of 4.1% from the August 29th total of 13,601,882 shares, AmericanBankingNews.com reports. Approximately 5.7% of the company’s shares are short sold. Based on an average trading volume of 976,476 shares, the days-to-cover ratio is presently 13.4 days.
Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of NovaGold Resources in a research note on Friday, July 11th. They set a “neutral” rating on the stock.
Shares of NovaGold Resources (NYSE:NG) opened at 3.13 on Thursday. NovaGold Resources has a one year low of $2.04 and a one year high of $4.62. The stock’s 50-day moving average is $3.65 and its 200-day moving average is $3.69. The company’s market cap is $993.1 million.
NovaGold Resources (NYSE:NG) last announced its earnings results on Thursday, July 10th. The company reported ($0.03) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.03). Analysts expect that NovaGold Resources will post $-0.10 EPS for the current fiscal year.
NovaGold Resources Inc (NYSE:NG) is engaged in the exploration and development of mineral properties.
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