Novagold Resources (NYSEMKT:NG) : Traders are bullish on Novagold Resources (NYSEMKT:NG) as it has outperformed the S&P 500 by a wide margin of 11.75% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.53%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.86% in the last 1 week, and is up 13.56% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 113.17% from its 1 Year high price. On Jul 6, 2016, the shares registered one year high at $7.27 and the one year low was seen on Jul 20, 2015. The 50-Day Moving Average price is $6.11 and the 200 Day Moving Average price is recorded at $5.31.
The stock has recorded a 20-day Moving Average of 10.88% and the 50-Day Moving Average is 16.37%.
Novagold Resources (NYSEMKT:NG): stock turned positive on Friday. Though the stock opened at $6.96, the bulls momentum made the stock top out at $7.145 level for the day. The stock recorded a low of $6.85 and closed the trading day at $7.12, in the green by 1.71%. The total traded volume for the day was 2,255,370. The stock had closed at $7 in the previous days trading.
In an insider trading activity, Deisley David, (Exec. VP & General Counsel) of Novagold Resources Inc, unloaded 106,582 shares at an average price of $6.95 on March 4, 2016. The total amount of the transaction was worth $740,745, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
NOVAGOLD RESOURCES INC. (NOVAGOLD) is engaged in the exploration and development of mineral properties. The Company operates in the mining industry, focused on the exploration for and development of gold and copper mineral properties. The Companys principal assets include a 50% interest in the Donlin Gold project in Alaska, the United States and a 50% interest in the Galore Creek project in British Columbia, Canada. The Companys primary focus is on the Donlin Gold project. The Donlin Gold project is owned and operated by Donlin Gold LLC, a limited liability company that is owned equally by wholly owned subsidiaries of NOVAGOLD and Barrick Gold Corporation (Barrick). The Galore Creek project is owned by the Galore Creek Partnership, a partnership in which NOVAGOLD Canada Inc, a wholly owned subsidiary of NOVAGOLD, owns approximately 50% interest. The Company has no operations or realized revenues from its planned principal business purpose.