Short Interest in NovaGold Resources Decreases By 4.2% (NG)
Shares of NovaGold Resources (NYSE:NG) were the target of a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 13,829,921 shares, a decline of 4.2% from the July 31st total of 14,440,666 shares, AmericanBankingNews.com reports. Approximately 6.0% of the company’s shares are sold short. Based on an average daily volume of 1,181,968 shares, the short-interest ratio is presently 11.7 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.
NovaGold Resources (NYSE:NG) opened at 3.70 on Wednesday. NovaGold Resources has a 52 week low of $2.04 and a 52 week high of $4.62. The stock has a 50-day moving average of $3.85 and a 200-day moving average of $3.70. The company’s market cap is $1.174 billion.
NovaGold Resources (NYSE:NG) last released its earnings data on Thursday, July 10th. The company reported ($0.03) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.03). Analysts expect that NovaGold Resources will post $-0.11 EPS for the current fiscal year.
NovaGold Resources Inc (NYSE:NG) is a precious metals company, which is engaged in the exploration and development of mineral properties in Alaska, the United States and British Columbia, Canada.
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