NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG)’s stock price was up 5.5% on Friday . The stock traded as high as $7.56 and last traded at $7.50, approximately 3,431,821 shares traded hands during trading. An increase of 75% from the average daily volume of 1,957,552 shares. The stock had previously closed at $7.11.

Separately, Zacks Investment Research raised NovaGold Resources from a “sell” rating to a “hold” rating in a research note on Thursday.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last issued its quarterly earnings results on Wednesday, June 26th. The mining company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02).

In related news, VP David A. Ottewell sold 26,166 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $4.27, for a total value of $111,728.82. Following the completion of the transaction, the vice president now directly owns 619,999 shares in the company, valued at $2,647,395.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gregory A. Lang sold 60,896 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $7.03, for a total value of $428,098.88. Following the completion of the transaction, the insider now owns 258,872 shares of the company’s stock, valued at $1,819,870.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 623,524 shares of company stock valued at $3,751,265.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Matisse Capital bought a new stake in NovaGold Resources in the second quarter valued at $59,000. Aperio Group LLC bought a new stake in NovaGold Resources in the second quarter valued at $61,000. Mercer Global Advisors Inc. ADV bought a new stake in NovaGold Resources in the first quarter valued at $43,000. Prudential Financial Inc. bought a new stake in NovaGold Resources in the second quarter valued at $91,000. Finally, HighTower Advisors LLC grew its position in NovaGold Resources by 18.2% in the second quarter. HighTower Advisors LLC now owns 16,529 shares of the mining company’s stock valued at $97,000 after acquiring an additional 2,544 shares during the period.

About NovaGold Resources (NYSEAMERICAN:NG)

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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