NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) saw a large decline in short interest during the month of September. As of September 14th, there was short interest totalling 11,838,169 shares, a decline of 3.6% from the August 31st total of 12,283,341 shares. Based on an average daily volume of 1,022,921 shares, the days-to-cover ratio is currently 11.6 days.

Shares of NYSEAMERICAN:NG opened at $3.75 on Wednesday. NovaGold Resources has a 1 year low of $3.35 and a 1 year high of $5.05.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last released its earnings results on Wednesday, June 27th. The mining company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01).

In other NovaGold Resources news, VP David A. Ottewell sold 60,309 shares of NovaGold Resources stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $3.73, for a total transaction of $224,952.57. Following the sale, the vice president now owns 645,385 shares of the company’s stock, valued at approximately $2,407,286.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Several hedge funds have recently added to or reduced their stakes in NG. BNP Paribas Arbitrage SA acquired a new position in NovaGold Resources in the first quarter valued at approximately $113,000. Cubist Systematic Strategies LLC acquired a new position in NovaGold Resources in the second quarter valued at approximately $153,000. OLD Mission Capital LLC acquired a new position in NovaGold Resources in the second quarter valued at approximately $158,000. BlackRock Inc. boosted its holdings in NovaGold Resources by 131.9% in the second quarter. BlackRock Inc. now owns 46,718 shares of the mining company’s stock valued at $208,000 after purchasing an additional 26,572 shares in the last quarter. Finally, Natixis boosted its holdings in NovaGold Resources by 161.8% in the first quarter. Natixis now owns 44,500 shares of the mining company’s stock valued at $214,000 after purchasing an additional 27,500 shares in the last quarter.

Separately, Zacks Investment Research raised shares of NovaGold Resources from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th.

NovaGold Resources Company Profile

NovaGold Resources Inc explores for and develops mineral properties in Canada and the United States. The company primarily explores for gold, silver, and copper deposits. It primarily holds a 50% interest in the Donlin Gold property that covers an area of 71,420 acres located in the Kuskokwim region of southwestern Alaska.

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